Debt Division

Just as in the case of asset division, debt division decisions made by the court are made with an overarching goal of reaching a just and equitable result under all of the circumstances. Just as in the case of asset division, a prenuptial or antenuptial agreement may override the otherwise applicable law. Generally speaking, however, debt incurred during the marriage for a jointly beneficial purpose is divided equally. Debt tied to an asset awarded to one party or the other will generally be awarded to the party who is awarded the related asset.

For more information, contact us at 503-585-0157 or sbaldwin@oneillbaldwin.com. We offer *FREE one-half hour consultations, and would be happy to discuss your case and answer your initial questions.

NOTICE: The above summary is meant for informational purposes and is not intended to be legal advice. It is meant merely as a broad overview of the rules applicable to the majority of cases, and does not diminish the need to consult with a professional regarding your specific circumstances.