Legal Question in Family Law in Illinois
My husband and I own a business together and are divorcing because he had an affair. He has agreed to sign all of our assets over to me, and consume all of our debt. I have been chronically ill with a progressive disease and have not worked at our business for several years. I have now found that we have IRS Liens on our commercial property, home, and stock investments. Will I consume the debt of the liens if I get the property? I was told he could sell me the property for $1 and the IRS would not hold me responsible for the liens since I wasn't aware of them. Is there any truth to that? Thank you.
1 Answer from Attorneys
You need to get your a divorce lawyer who is also a tax specialist. In my opinion as a co-owner of the business you are as liable for the liens as your husband and are presumed to know all about the liens. You would not qualify as an innocent spouse regardless of your illness.