Post seperation debt


#1

Post separation does not affect equitable distribution. You are responsible for 1/2 the marital debt and entitled to 1/2 the marital assets up until date of separation. Any debt that is incurred after the date of separation is considered separate and would be the sole responsibility of the individual, and any assets acquired after date of separation would be property of the individual.
Also, if the courts find that one spouse is deliberately increasing the amount of the debt or decreasing the amount of assets, that can be cause for more of the distribution to go to the other spouse.


#2

Thanks stepmother. The reason for my question was a request I got from MY attorney that I submit all of my debts AFTER the date of seperation. I was reading last night about “divisable assets/debts”, and what I understood was that “divisable” are those debts and assets between the time of seperation and distribution. Since my X moved out I have done $5000 worth of improvements on my house (thats materials, the labor I did myself) and paid off most of the debt. I’m wondering now if thats going to work against me.


#3

Dear harleydad:

Greetings. Post-separation debt is the debt of the party that created it after the DOS. Thanks

Janet L. Fritts
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

301 McCullough Drive Suite 510
Charlotte, North Carolina 28262
704.644.2831 main voice
704.307.4595 main fax

1829 East Franklin Street, Bldg 600
Chapel Hill, NC 27514
919.321.0780 main phone
919.787.6668 main fax

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.


#4

What, if any, does post-seperation debt play in Equitible Distribution?