What is the name of your state? Colorado
My best friend is getting a divorce (the marriage was 7 years long, and there are two children) and is wondering about what items are actually considered marital assets and liabilities, and what items are considered personal assets and liabilities. Her husband has really bad credit, so all the credit cards are in her name.
Last summer, she got approved for a credit line from Dell and bought two laptop computers, one for each of them. The credit line is in her name only and there is no signed agreement as to the division of the payments. The verbal agreement was that he would pay a portion of the payments to cover the cost of his computer. Now that they're getting divorced, he wants to include the monthly minimum payment in the alimony. However, since she's not sure how long she'll be getting alimony, she may not get enough money to cover the cost of his computer. She told him that if he could pay off the remaining amount on the bill for his computer only, he could keep it, otherwise she was going to keep it, as she doesn't feel that it's fair to have to finish paying off the interest and cost of his computer when she can't use what she's paying for. He maintains that the computer is a marital asset, and the judge won't let her keep both computers. She plans to sell his computer once the divorce is final, and use the money to pay off a portion of the bill.
They also have a minivan that is in both their names, with a significant amount still owing. Her husband wants to take the oldest son's bed so he'll have a place to sleep, however he is also planning on taking their futon. He also is taking the TV and DVD player, as well as the microwave, and several other things.
So here are the questions:
1. Are the credit cards considered a marital liability or a personal liability, since they are in her name only? Should she request that he be required to pay a portion of the bills, since the credit cards were used to benefit the family?
2. Are the computers considered a marital asset? Given that the credit line is in her name only, there is no written agreement between them concerning the legal ownership of the computers or how the payments would be made, are the computers hers, or theirs? Does she have the right to keep both laptops, since the bill is in her name only and she will be the one paying it?
She is really worried that he'll agree to pay for his computer and then refuse to do so once they're no longer living together. She doesn't want to end up paying for a computer that she doesn't have. If anybody has any ideas or advice, it would be greatly appreciated.
Thanks
My best friend is getting a divorce (the marriage was 7 years long, and there are two children) and is wondering about what items are actually considered marital assets and liabilities, and what items are considered personal assets and liabilities. Her husband has really bad credit, so all the credit cards are in her name.
Last summer, she got approved for a credit line from Dell and bought two laptop computers, one for each of them. The credit line is in her name only and there is no signed agreement as to the division of the payments. The verbal agreement was that he would pay a portion of the payments to cover the cost of his computer. Now that they're getting divorced, he wants to include the monthly minimum payment in the alimony. However, since she's not sure how long she'll be getting alimony, she may not get enough money to cover the cost of his computer. She told him that if he could pay off the remaining amount on the bill for his computer only, he could keep it, otherwise she was going to keep it, as she doesn't feel that it's fair to have to finish paying off the interest and cost of his computer when she can't use what she's paying for. He maintains that the computer is a marital asset, and the judge won't let her keep both computers. She plans to sell his computer once the divorce is final, and use the money to pay off a portion of the bill.
They also have a minivan that is in both their names, with a significant amount still owing. Her husband wants to take the oldest son's bed so he'll have a place to sleep, however he is also planning on taking their futon. He also is taking the TV and DVD player, as well as the microwave, and several other things.
So here are the questions:
1. Are the credit cards considered a marital liability or a personal liability, since they are in her name only? Should she request that he be required to pay a portion of the bills, since the credit cards were used to benefit the family?
2. Are the computers considered a marital asset? Given that the credit line is in her name only, there is no written agreement between them concerning the legal ownership of the computers or how the payments would be made, are the computers hers, or theirs? Does she have the right to keep both laptops, since the bill is in her name only and she will be the one paying it?
She is really worried that he'll agree to pay for his computer and then refuse to do so once they're no longer living together. She doesn't want to end up paying for a computer that she doesn't have. If anybody has any ideas or advice, it would be greatly appreciated.
Thanks