Legal Question in Family Law in New Jersey

Liabilities in a divorce

I'm about to go for a divorce. My wife moved out 2 years ago .I posponed getting a divorce

because I was hospitalized 2 times in the last year for a heart problem . We have a daughter in college.

My wife recently went for a consultation with a lawyer. She was told that the student loans that

I signed over the last 3 years are mostly my responseability, since she only works part time and

her income is only 1/5 of mine then shes only responsable for 1/5 of the amount. I've been supporting

my daughter's expenses other than tuition all this time and haven't asked for any help from my wife .

Is she responseable for 1/2 of the debt? It's close to $80,000 and we're not finished yet ..

Thanks


Asked on 6/08/03, 11:47 pm

2 Answers from Attorneys
Bruce Matez Gerstein Grayson, LLP

Re: Liabilities in a divorce

There is no specific answer to your question. Most often college expenses are prorated between the parties according to their respective incomes. Marital debt is also allocated, however it is often tied to how marital assets are divided. There are many factors which are considered by the Court. However, generally both parties are responsible for college expenses and marital debt. If you would like to further discuss this matter, please feel free to contact my secretary, Debbie, at 856-795-6700 to schedule a consultation.

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Answered on 6/20/03, 3:21 pm
Gary Moore Gary Moore Attorney At Law

Re: Liabilities in a divorce

Child support and college expenses are split on a prorated basis. Debts and assets are split in a similar manner; on a fifty-fifty basis. It is a matter of how the college loans are characterized.

You can reach me by dialing 800 273 7933 and you may visit my website by clicking on www.garymooreattorneyatlaw.abn1.net/home.asp.

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Answered on 6/09/03, 9:11 am


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