Monmouth County Marital Debt Lawyer
Property division is never just about dividing positive assets which you and/or your soon to be ex-spouse have acquired during a marriage — savings, real estate, cars, boats, businesses, etc. It is also about allocating and dividing the debts that the two sides have incurred during the duration of your marriage.
While a portion of the division of debt during a divorce is often a straightforward process, there is equally certain debt, that is not so easily categorized as part of the marital enterprise, which would warrant equitably distributing the obligation between the spouses. For example, if one spouse has unpaid student loans incurred prior to the date of the marriage, that is usually not counted as marital debt, and therefore is the sole responsibility of the spouse who incurred it.
All too often, many men are so eager to put the divorce behind them, and move on with their lives, that they concede issues such as debt allocation unnecessarily disadvantageous to their best interest. Only an experienced divorce attorney who possesses decades of financial skills and education, that go well beyond his law degree, can identify those issues, such as Douglas I. Krompier, MBA.
Men also make the wrong assumptions, sometimes. Some imagine that credit card purchases or mortgage obligations incurred exclusively by the wife are the wife’s debts. By law, all debt incurred by ordinary living or business expenses is considered joint or marital debt. Even when credit cards are made out to just one person, the debt is still considered shared and the court will seek to divide it. The exception to this, is where it can be proven that your soon to be ex-spouse incurred “non-marital” and/or “non-family” related expenses, such as taking solo vacations of which neither you or your children were present. Also, certain purchases that occurred near or after the decision to divorce, may be attributed 100% to your spouse. Additionally, if your spouse has been spending money on her latest paramour, those debts should not be your burden to absorb.
Arriving At Debt Agreements Of All Types And In Any Venue
The Law Offices of Douglas I. Krompier MBA LLC is experienced in dividing every kind of marital debt, including:
- Business debt
- Credit card debt
- Mortgage debt
- Auto and other vehicle debt
- Home equity lines
Depending on your situation, you may choose to do the division in court, in mediation or in direct negotiation through Collaborative Divorce. Douglas I. Krompier is adept in all these environments, is formally trained as a Mediator and Collaborative Divorce attorney, and has resolved even the thorniest debt questions to clients’ satisfaction.
A Respected Men’s Rights Lawyer Serving All Of New Jersey
Monmouth County marital debt attorney Douglas I. Krompier MBA has over three decades of experience in finance, accounting, real estate and tax law. Look to him to divide marital debt in a way that is fair to you.