Debt durring marriage

Who owns the debt incurred during marriage?  Under Family Code §910, the community estate is normally liable for debts incurred by either spouse, either before or during marriage, regardless of whether one or both spouses are parties to the debt.

Can I do anything about this?  By signing this Premarital Agreement, both parties can agree that each debt incurred during marriage, including credit cards, charge accounts, and other loans or extensions of credit, will be the separate debt of the party who incurs it unless the parties acquire the debt in their joint names. 

If you are concerned about your spouse and their spending habits, or they simply like taking risky business ventures, consider using a prenup or a Marital Agreement to ensure that debt taken on during marriage stays with your spouse. 

You can contact me at Amanda@gordonfamilylaw.com for more information.