Spouses who are contemplating filing for divorce are often consumed with worries over the division of marital wealth. Will there be enough left to establish a strong financial foundation for the years ahead? Will it be impossible to reach a fair settlement without incurring high legal costs? These and other property division questions are understandable, but there is a related divorce topic that many fail to give proper consideration.
Just as an Ohio couple's assets will be divided during the course of their divorce, debts will also need to be addressed. The debt accumulated within a marriage is also subject to division, a fact that far too many spouses overlook in the months leading up to a filing. It is important to understand how much debt is held by both partners, even those debts that were incurred for the sole use of one spouse and absent the knowledge or consent of the other.