Proper Division of Marital Debt

[MissouriLady]

What is the name of your state (only U.S. law)? Missouri

My husband and I are considering a divorce. Can he force me to take on half of our $230,000.00 non-medical debt that was made during our 12 year marriage? The debt is for 3 pieces of property and a couple of charge cards. His monthly income is roughly $5000.00 whereas my monthly income is $2400.00. No children are involved and I will not ask for alimony. Also, am I entitled to any of his future pension?

 

[LdiJ]

What is the name of your state (only U.S. law)? Missouri

My husband and I are considering a divorce. Can he force me to take on half of our $230,000.00 non-medical debt that was made during our 12 year marriage? The debt is for 3 pieces of property and a couple of charge cards. His monthly income is roughly $5000.00 whereas my monthly income is $2400.00. No children are involved and I will not ask for alimony. Also, am I entitled to any of his future pension?

Whoever keeps the 3 pieces of property is responsible for the debt associated with that property. If there is an equity in the properties that is subject to division.

The unsecured debt (credit cards) is marital debt subject to division.

A pension or retirement account, if vested, is marital property to the extent that it accrued during the marriage, and is also subject to division. You might negotiate with him on the pension and alimony in exchange for him keeping the marital debt, or you might insist that property be sold to cover the marital debt.

With that much debt, it would probably be wise to consult a local attorney.

 

[nextwife]

Neither of you should split FUTURE retirement accrual, only benefits/savings accrued DURING the marriage.

 

[willpower102]

Just to be clear, how are medical bills split?

Dad says he wants to pay all Mom's medical bills (about 5k) if they don't go to court. (but not pay spousal support or alimony). He says if they go to court and she get's awarded alimony then they'll also split up the debt and she'll be responsible for all of it even though the debt was accrued during the marriage.

 

[Ohiogal]

What is the name of your state (only U.S. law)? Missouri

My husband and I are considering a divorce. Can he force me to take on half of our $230,000.00 non-medical debt that was made during our 12 year marriage? The debt is for 3 pieces of property and a couple of charge cards. His monthly income is roughly $5000.00 whereas my monthly income is $2400.00. No children are involved and I will not ask for alimony. Also, am I entitled to any of his future pension?

Why shouldn't you have to pay half the marital debt? Who is getting the pieces of property? Whose name are the charge cards in? You are not entitled to his FUTURE pension. You are entitled to half of the retirement benefits that accrued during the marriage?

 

[willpower102]

Why shouldn't you have to pay half the marital debt? Who is getting the pieces of property? Whose name are the charge cards in? You are not entitled to his FUTURE pension. You are entitled to half of the retirement benefits that accrued during the marriage?

If you think about OP probably said future pension, because you get the pension after retirement. OP seems smart enough to know that they don't get anything not accrued during marriage.

The charge cards are obviously split down the middle. It's my understanding that it doesn't matter who's name is on them. It's marital debt. The property has already been answered so I don't see the point of asking about it again.

 

[I'mTheFather]

Just to be clear, how are medical bills split?

Dad says he wants to pay all Mom's medical bills (about 5k) if they don't go to court. (but not pay spousal support or alimony). He says if they go to court and she get's awarded alimony then they'll also split up the debt and she'll be responsible for all of it even though the debt was accrued during the marriage.

Huh?? Are you OP? Or related to OP? Where does this information come from?

If you think about OP probably said future pension, because you get the pension after retirement. OP seems smart enough to know that they don't get anything not accrued during marriage.

The charge cards are obviously split down the middle. It's my understanding that it doesn't matter who's name is on them. It's marital debt. The property has already been answered so I don't see the point of asking about it again.

Again, huh?

 

[willpower102]

Huh?? Are you OP? Or related to OP? Where does this information come from?



Again, huh?

The first part was because I have several tabs open and thought I was posting in one related to medical expenses. My bad.

The second one.. Well, it's obviously a reply to Ohiogal, whom I quoted, refuting her "Why shouldn't you..." statement. Because there are several obvious reason's why OP may not be responsible for 1/2 the debt on that property. And for the third time, OP is obviously not asking about spouses retirement in the future, they are asking about the 1/2 of spouses retirement accrued during the marital period: of which op would be entitled to 1/2 through QDRO's. <Watch OP prove me wrong > No. Not related.

 

[Ohiogal]

The first part was because I have several tabs open and thought I was posting in one related to medical expenses. My bad.

The second one.. Well, it's obviously a reply to Ohiogal, whom I quoted, refuting her "Why shouldn't you..." statement. Because there are several obvious reason's why OP may not be responsible for 1/2 the debt on that property. And for the third time, OP is obviously not asking about spouses retirement in the future, they are asking about the 1/2 of spouses retirement accrued during the marital period: of which op would be entitled to 1/2 through QDRO's. <Watch OP prove me wrong > No. Not related.

She is responsible for half the marital debt. The names matter because that individual is still beholden to the credit card companies regardless of what the divorce court rules. And who gets the property also matters. So how about you sit back, shush yourself and allow the OP to answer the questions asked.

 

[I'mTheFather]

The first part was because I have several tabs open and thought I was posting in one related to medical expenses. My bad.

Well, let's hope you get that reply into the proper thread.

The second one.. Well, it's obviously a reply to Ohiogal, whom I quoted, refuting her "Why shouldn't you..." statement. Because there are several obvious reason's why OP may not be responsible for 1/2 the debt on that property. And for the third time, OP is obviously not asking about spouses retirement in the future, they are asking about the 1/2 of spouses retirement accrued during the marital period: of which op would be entitled to 1/2 through QDRO's. <Watch OP prove me wrong > No. Not related.

So, you're refuting a question that OG asked of the OP??

Re the bolded, that is not obvious from the post. Very little on this forum should be assumed because one thinks it's obvious.

 

[willpower102]

Very little on this forum should be assumed because one thinks it's obvious.

Thanks and you're correct, it's important that I not make assumptions here. However I think you both need to go back and read LdiJ's post which very clearly outlined the property debt. That is the correct answer. All OP needs to do is take what LdiJ said and fill in the blanks to determine who owes what. /unsubscribing I didn't mean to be a part of this conversation anyway, and you all are getting kinda heated for something that's already been answered. Sheesh.

 

[LdiJ]

Anybody notice the original thread date? Its almost 3 weeks old.

 

[ecmst12]

Yes, willpower is not only a busybody getting involved in his parents' divorce, he's a hijacker too!