Throughout your marriage, you have accumulated a significant number of assets and liabilities. She may have bought a house, some cars, some vacation property. At the same time, she has probably also acquired things like credit card bills, medical bills, and other forms of debt. Before even saying the words “I want to get divorced,” it is critical that she handle the marital debt BEFORE she gets divorced. Why?

It seems logical for a divorce court judge to divide all marital debts in half (just like he would divide all marital assets in half), but it doesn’t always happen that way. In fact, the lawyers may haggle and hassle over the small debt you two have to the point where you get so fed up that you agree to take on certain debts (even large debts) because the $200 an hour your lawyer is fighting with your lawyer. from STBX is not worth the $100 medical bill debt you are haggling over.

If you deal with debt BEFORE you start the divorce process, it will make the entire divorce process easier and less time consuming. Here are four ways you can handle marital debt before you get divorced:

#1- Make sure all big-ticket items of debt (the things you’re willing to fight for) are directed at both you and your spouse. Often a married couple will have certain bills (gas, electric, cable, cell phone) in one person’s name versus the other, and as long as things are going well, this arrangement is fine. However, once you’ve made the decision to get divorced, it can be argued that any debt you owe in your name alone (which includes medical bills) is YOUR debt and not your spouse’s responsibility. You don’t want that to happen to you, so make sure all items of high ticket debt (over $300) are listed in BOTH names so a judge can easily define this as joint liability.

#2- Pay off, close or cancel ALL joint credit cards. You can tell your spouse any reason you can think of why you’re canceling the credit cards, but if you pay the balance in full or just call the credit card company and tell them to close the account and work out the balance. , it is important that you eliminate all joint credit accounts that both of you may use during the divorce process. It’s not uncommon for an embittered STBX to max out a joint credit card in retaliation, and since it’s a joint account, it could easily be determined that you both have a responsibility to pay off the balance, especially. if you cannot prove that what was purchased with the card did not benefit the whole family in some way.

#3- Make sure there is at least one vehicle in the household that you can afford through the divorce process and make sure you can afford (without financial help from your STBX) the car payment, maintenance costs, and costs. of gasoline for that vehicle. For example, if you currently own two cars and a large SUV and you know that in the divorce you will want to keep the SUV to take the kids, but the SUV has a monthly payment of $680.00 per month, you need to be sure you can pay car payment, gas, maintenance (oil changes, brakes, tires, etc.), and car insurance and registration for this vehicle. If you can’t, it’s best to invest in something more affordable now (before you get a divorce) or increase your income so you can keep the SUV. No matter what happens, all vehicles are considered marital property and the courts do a great job of making sure each spouse walks away with a vehicle. The key here is that you are prepared to single-handedly manage the expenses of whatever vehicle you leave the marriage with.

#4- Make sure the marital home and all properties are accounted for, have recent appraisals, and know what the market will fetch. Do not refinance or take out a second mortgage under any circumstances. If you’re in a family home that you know you won’t be able to keep, do your best to sell the house BEFORE the divorce and split the proceeds 50/50 (which will happen anyway since both names are on the deed). If you have children and want to stay in the marital home for their well-being, make sure you can afford all the costs of the home, including the mortgage, taxes, maintenance, and improvements. Get any and all home improvements done now (before you start the divorce process) so you don’t have to worry about handling it later when less funds are available. The most important thing is that you do not acquire new housing bills, debts or buy new properties. It’s all marital property and if it’s your money that buys it, you can get a divorce in a state that considers all things “community property” and therefore puts you in a position where you’ll have to divide everything by half 50/50.

*NOTE: Once you have been awarded the marital home in the divorce, take proactive steps to get your ex-spouse off the deed to the property. You will have to buy it or come to some kind of agreement. The worst that could happen is this: You get divorced after only a few years of marriage (ie, a few years of being in the house with a 30-year mortgage), you spend 10 or 15 years paying off a mortgage to the family. home only to try to sell it only to find that you have to give your ex-spouse a check for 50% of the proceeds simply because her name is still on the deed. Eliminate that factor as soon as possible.

Getting a divorce successfully headed your way requires strategy and planning. You may be sick and tired of being sick and tired, but this is not the time to rush. Focus and act smart, especially when it comes to marital debt.