Joseph Stover's Profile Picture

Reliance Financial Group, Inc.

Reliance Financial Group, Inc.
Joseph Stover, CPA/PFS
President
6 MISTY MORNING CT
DURHAM, NC 27712
919-364-2030
jstover@myreliance.com
www.myreliance.com

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June 21, 2018

Am I liable for my spouse's debts?

Answer:

The general rule is that spouses are not responsible for each other's debts, but there are exceptions. Many states will hold both spouses responsible for a debt incurred by one spouse if the debt constituted a family expense (e.g., child care or groceries). In addition, community property states will hold one spouse responsible for the other's debts because both spouses have equal rights to each other's income. Also, you are both responsible for any debt that you have in both names (e.g., mortgage, home equity loan, credit card).

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