Assets and Debts


#1

Both parties are entitled to 1/2 the marital assets and responsible for 1/2 the marital debts. The power, water and groceries would not be her responsibility after the date of separation unless the utilities are specifically in her name alone. That would be considered separate debt. The mortgage is a different story since the home would be considered marital asset/debt. The other loans/debts as long as they were acquired during the marriage are considered marital debt and are to be split.


#2

Marital assets and debts are shared equally. However, if you are paying the mortgage and you keep the house, the value of the house generally offsets the balance on the mortgage. If she earns more than you and committed adultery, you would be entitled to spousal support as well.

Helena M. Nevicosi
Attorney with Rosen Law Firm

4101 Lake Boone Trail, Suite 500
Raleigh, North Carolina 27607
919.787.6668 main phone
919.256.1665 direct fax

10925 David Taylor Drive, Suite 100
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
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ROSEN.COM

The response posted above is based upon the limited factual information made available and is not intended as a full and complete response to the question. The only reliable manner to obtain complete and adequate legal advice is to consult with an attorney, fully explain your situation, and allow the attorney sufficient opportunity to research the applicable law and facts required to render an accurate opinion. The basic information provided above is intended as a public service but a full discussion with an attorney should be undertaken before taking any action.


#3

Can someone please let me know what the general rule of thumb is with debts obtained during a marriage. My wife left me and left all but her two bills for me to pay. This includes a $700.00 mortgage and about $600.00 in other loans and debts. This does not include lights, Water and groceries. She pays $250.00 for two small loans in her name. Is she not required to pay half of the debts if she gets half of the assets? She left for someone else and that has not worked out so now she does not want to help with the other bills. She has our youndest son and I have our oldest son with me. She lives with her mother and pays nothing in that household. Any help would be appreciated.