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Am I responsible for my husband's debt prior to marriage?

Anonymous Asked:

My husband had a large line of credit debt when he entered the marriage over $37,000, and then he added things to it on his own (rings etc) so it's right up at $50,000 now. The credit line has always remained in his name. Assuming rings are returned to him, this still remains his debt and doesn't take away from the proceeds of selling our home - is this correct to assume?

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7 years ago

Answer: Please be careful. You are both entitled to an “equalization of net family property” under the Family Law Act. It is not correct to divide one asset at a time, such as when you refer only to the home proceeds. We must compare all assets and debts, of both of you, on both the date of marriage and the date of separation. The line of credit is a debt. We can then, if appropriate, seek a readjustment based on section 5(6) of the Family Law Act, if appropriate based on your facts. As one example only, how long have you been married? This may affect matters based on the aforesaid section 5(6). Thus, I strongly recommend that you DO NOT agree to any division of the home or otherwise before first seeking responsible legal advice. You are welcome to call me at: (866) 557-3222 for a free consultation.

(The information provided above is general, not legal advice, as circumstances vary from case to case. Thus, if you wish legal advice that you can rely upon for your specific case, please contact Andrew Kania for a free consultation).

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