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Responsibility for husband's debt

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Anonymous Asked:

My husband has a large amount owing on his credit limit but it is not from the joint account. It is from his personal account. Am I responsible for half of it?

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If you are separating then all of your assets and debts on both marriage date and the date of separation will be taken into account. The exact same analysis applies to your husband. This is pursuant to the Family Law Act. However, the Family Law Act also provides that you can have an unequal division of Net Family Property, pursuant to section 5(6) of the Family Law Act, depending on the unique circumstances of each case. Thus, most certainly the debt incurred by your husband will be considered, but how it is exactly treated depends on the unique circumstances of your case. You are welcome to telephone me at 905-451-3222 for a free consultation.

(The information provided above is general, not legal advice, as circumstances vary from case to case. As well, generally speaking, the above information relates to Ontario law. Thus, if you wish legal advice that you can rely upon for your specific case, or if you are making inquiries where Ontario law may not apply, please contact Andrew Kania for a free consultation).

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