Division of Debts and Complex Divorce
In addition to the complexities of dividing assets, many couples have the burden of determining responsibility for debts at the time of divorce. With the current economy, job loss, and rise in credit card bills, many couples face serious disputes involving the division of marital debts. At the Law Offices of Richard D. Goff, of Minneapolis, Minnesota, we are experienced in handling the complexities of property division, including debt division, and will take a strategic approach to protect your rights.
Dividing Debts at the Time of Divorce
Debts are often considered as a part of the overall estate. When evaluating assets and debts, you want an experienced attorney who will review your case and work with necessary experts to identify any hidden assets or asset dissipation before or during the divorce process.
It is not uncommon for a spouse to hide or dissipate marital assets, and our attorney knows how to investigate these cases, perform proper discovery, and protect your rights involving debt. Marital debt may include:
- Mortgages
- Car loans
- Loans against a 401(k)
- Loans against life insurance assets
- School loans
- Secured and unsecured loans
- Credit card debt
Most marriages will have accumulated some kind of debt. Your spouse may have brought debt into the marriage. It is wrong to assume that because debt is in one person's name it is not the other's responsibility. Any debt acquired during the marriage may be considered marital debt, depending on the circumstances.
Our Twin Cities divorce attorney Richard Goff has an in-depth knowledge of the legal system as well as the law as it may apply to your case. He is recognized throughout the legal community for his leadership in complex family law matters. He focuses on the individual facts of a case to recommend an effective solution.
We are available to discuss how best to protect your individual rights upon divorce. Please call our Minneapolis, Minnesota, office at 877-617-8564 | 651-728-7027 or contact us by e-mail to arrange an initial consultation with our family law attorney.
