Legal Question in Family Law in Georgia

Financial Responsibilty for Spouse's Debts

I am married & recently retired with 30 years of employment with benefits. My husband is retired on disability.My marriage has been under stress at times and divorce considered due to spousal rage, anger and emotional abuse.He is in counseling.He is compulsive in several areas which causes great concern.My husband overspends, purchasing needness items, which often stay in the box or unused through ebay and internet purchases.I would estimate his credit card balance is about $10,000.In order to protect myself,I removed my name from joint cards and have a separate card which I paid off quickly.We have separate checking accounts & split the household bills. All savings are in my name as I am the one who has taken this initiative. My husband has never made financial plans nor saved for our future. The house is in both names with a manageable mortage payment.A substantial amount of his retirement plan went into the house as a down payment due to limited savings at time of purchase. His credit card balance would nearly wipe out the saving. He has major health problems and a $10,000 life insurance policy. In the event of death or unable to pay HIS credit card what is my legal responsibility for debts he incurred?


Asked on 1/13/05, 11:24 pm

1 Answer from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: Financial Responsibilty for Spouse's Debts

The fact that you are contemplating divorce is irrelevant unless you actually go through with it. Your responsibility for his debts depends on whether your name is on the account. If he dies, his estate would pay off as much of his debt as possible.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

Glenn M. Lyon, Esq

MacGregor Lyon, LLC

Promenade II

1230 Peachtree Street NE

Suite 1900

Atlanta Georgia 30309

Phone 404.942.3545

Fax 404.795.0993

[email protected]

www.macgregorlyon.com

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Answered on 1/14/05, 8:45 am


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