Taxes and Bankruptcy

[colobus]

What is the name of your state? Wisconsin
I have separated (and moved to Minnesota) from my husband and he filed for divorce in October, 2005. I have three questions.
1. Because we have not been living apart for more than a few months (since September), would I be able to file taxes under Married but Separate (under Wisconsin law) or would we have to file jointly?
2. If we filed taxes separately, would I be responsible for half of any debt that he incurs (tax wise) because we are still married or is it more like I pay my share and he pays his share.
3. If my husband purchased a home in Wisconsin (and I am not listed on the title) and then took out a second mortgage to pay-off credit card debt (and I am not listed on the second mortgage); and if he defaulted on the home loans or filed for bankruptcy, would the creditors (credit card companies) come after me to satisfy the debt or would they just take his house to payoff the mortgages and the credit card companies are out of the picture because the debt has been refinanced into a mortgage?
Thank you for your help.

 

[LdiJ]

What is the name of your state? Wisconsin
I have separated (and moved to Minnesota) from my husband and he filed for divorce in October, 2005. I have three questions.
1. Because we have not been living apart for more than a few months (since September), would I be able to file taxes under Married but Separate (under Wisconsin law) or would we have to file jointly?
2. If we filed taxes separately, would I be responsible for half of any debt that he incurs (tax wise) because we are still married or is it more like I pay my share and he pays his share.
3. If my husband purchased a home in Wisconsin (and I am not listed on the title) and then took out a second mortgage to pay-off credit card debt (and I am not listed on the second mortgage); and if he defaulted on the home loans or filed for bankruptcy, would the creditors (credit card companies) come after me to satisfy the debt or would they just take his house to payoff the mortgages and the credit card companies are out of the picture because the debt has been refinanced into a mortgage?
Thank you for your help.

If you file married filing separate, you are NOT liable for any of his tax debt. You are never required to file jointly with your spouse.

If you are not listed on the primary or secondary home mortgages (that is separate from the deed) then the creditors will not come after you.

If your name was on any of the credit cards, then you need to cancel them. its not good enough that they were paid off, because he can run them up again.

 

[colobus]

Thank you for the quick response. The credit cards have never been in my name and I am constantly being told that it doesn't matter that my name was never on them as I share half his debt just because we were married and I want to make sure I don't end up with any debt from him.

 

[LdiJ]

Thank you for the quick response. The credit cards have never been in my name and I am constantly being told that it doesn't matter that my name was never on them as I share half his debt just because we were married and I want to make sure I don't end up with any debt from him.

No, you are fine. If the cc's hadn't been paid off then you could have been ordered to share in that debt by the judge. However, you also would have had half of the equity in the home as well. Since he is keeping the home, that debt is his.

 

[colobus]

You made my day. Thanks for your help.