S10 Ep28: What If Your Ex Racks Up Debt Without You Knowing?

#ChooseGoldman Discovering hidden debt during a divorce can be a major financial blow, but Michigan's equitable distribution laws ensure that you are not necessarily responsible for your ex's secret spending. Attorney Akiva Goldman explains that the court distinguishes between legitimate family obligations and "personal waste" to determine a fair division of debt. • Debt incurred for family purposes, such as home repairs or medical bills, is generally considered marital and shared between both parties. • Courts scrutinize the purpose of the debt, often assigning "separate debt" to a spouse who spent money on extramarital affairs or flashy gifts. • Timing is a critical factor; expenses for individual indulgences or luxury hobbies after separation are rarely split. • Michigan follows "Equitable Distribution," which aims for a fair division rather than a strict 50/50 split of liabilities. • A "dissipation analysis" can be performed by experts to prove money was wasted on non-marital goals, protecting your share of the estate. 📞 (248) 590-6600 Call/Text 📅 For a Complimentary Phone Case Evaluation: https://app.acuityscheduling.com/schedule.php?owner=17105687&appointmentType=18529428 Click here to watch the video: https://youtu.be/EzEDpeYqjrY For more information: https://akivagoldman.com/michigan-family-law-attorney ⬇️ Download Divorce & Custody Survival Guide. Click here: https://akivagoldman.com/free-legal-ebook/ Learn more in our blog: https://akivagoldman.com/blog/family-law/what-if-your-ex-racks-up-debt-without-you-knowing Visit us at ChooseGoldman.com #Goldmanandassociateslawfirm #ChooseGoldman #ChooseGoldmanLaw #MichiganDivorce #DebtDivision #FamilyLawMichigan #MaritalDebt #EquitableDistribution #LegalAdvice #MichiganLawyer