Legal Question in Bankruptcy in Wisconsin
Debts
My wife suffers from Bi-Polar illness, a mental illness whose symptons include periods of poor judgement concerning money. The result is she has accumulated tens of thousands of dollars of credit card debt. Is there a way I can protect myself financially from her?
1 Answer from Attorneys
Re: Debts
It might not be too late to execute a separate-property marital agreement with her. Such an agreement could be tailored to allocate both separate property and separate debts between the two of you for future debts. Though I haven't done one so far in the years that I've been practicing law addressing past debts, it might be possible to even separate past debts so that she would be solely liable for any number of debts incurred already that would otherwise be deemed to be marital debt under Wisconsin marital law. Of course, the more practical way to address her financial carelessness is to get her effective treatment for her condition, and to get both of you into some financial counseling. I would try that first. Good luck!
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