Till Debt Do We Part?In community property states, both spouses are responsible for any debt that has been incurred while they were married.
That means if one spouse doesn’t pay an outstanding credit card debt accumulated during the marriage, then the other one must pay, or risk credit damage and collection actions. The credit card company doesn’t view it as “his” or “her” debt. Instead, they see one debt, and if they can’t collect from one party, they will try to get the entire balance from the other party.
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However, if you are divorcing in Rhode Island, it is important to note that Rhode Island is not a community property state, but instead is an equitable distribution state.
In Rhode Island, marital property is considered to be all property acquired during the marriage by both partners. If there is a divorce, the court will aim to distribute one half of this property to each spouse unless the court finds such a division to be inequitable or unfair. In order to decide this, the court looks at various factors such as length of marriage, age, health, employability, other sources of income and any debt.
Are you a resident of Rhode Island and considering divorce?
The experienced lawyers at Law Office of Jeremy W. Howe, LTD. and the mediators at Partners In Mediation offer you two options in order to proceed with your divorce or other family disputes and problems.
Learn about these options and which would work best for you by calling or contacting Jeremy Howe for a free comprehensive telephone consultation. Attorney Howe and his team of family court lawyers have been providing quality divorce and family representation in all Family Courts in Rhode Island for nearly four decades. He and his co-mediator have mediated hundreds of divorce, family law and elder law cases across the state of Rhode Island.
For more information, please visit them on the web at http://www.counselfirst.com