Legal Question in Family Law in California
I had a sole propietor carpentry business, before my marriage. When I married, my wife she helped a little with bookeeping for which I also paid her.
I also joined her in the business account, so she could write checks etc.
We separated February 2007. Because of economy and my age 65. I'm really no longer doing business.
But there is substantial debt, 15,000
Can the substantial debt be used to offset how she gets at the dissolution of our marriage?
2 Answers from Attorneys
It depends on when the debt was incurred. If there was business debt when you married, the calculation gets a little complicated. But if the business had more assets than debts when you married, generally all the debt will be community debt, even if your wife never did anything with the business, and the debt will be divided between you as part of the property and debt division.
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