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Life Events


Every stage of life has its own financial needs and concerns. The life events on this page can help you target the key financial strategies and issues that are likely to be most important to you in this stage of your life.

Starting Out    Changing Jobs    Coping with Unemployment    Getting Married    Starting a Family    Buying a Home    Saving for College    Starting a Business    Planning/Saving for Retirement    Managing College Expenses    Long-Term Care Planning    Planning an Estate    Nearing Retirement/Retirement    Loss of Spouse    Financial Windfall    Getting Divorced   
 
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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Doncaster Insurance & Financial Services, Inc.  1020 N. Center Parkway #C  Kennewick, WA 99336  www.tomdoncaster.com Securities and advisory services offered through Independent Financial Group, LLC a registered broker/dealer an Investment Advisor and member of FINRA and SIPC.  This is not an offer to sell securities, which may be done only after proper delivery of a prospectus and client suitability has been reviewed and determined.  Doncaster Insurance & Financial Services, Inc and Independent Financial Group, LLC are unafiliated entities.   OSJ Branch:  12671 High Bluff Dr. Suite 200  San Diego, CA 92130


 


Office Hours of Operation for Doncaster Insurance & Financial Services, Inc:   Monday - Thursday  9:30 am to 3:30 pm (Noon - 1 pm Lunch)



This communication is strictly intended for individuals residing in the state(s) of AZ, CA, ID, MO, OK, OR and WA. No offers may be made or accepted from any resident outside the specific states referenced.
 


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