Tax
- Thread starter Karver
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billm
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You are equally responsible for all debts acquired during the marriage, including tax debt.
Note that the government (or other creditor) will come after who's ever name is on the debt BUT according to family law all debt has to be split equally, as with all assets acquired during the marriage regardless of whose name is on what.
As for his company tax debt, the same is true, it is an asset or liability of the marriage, that he happens to own, but it is equally yours.
If his company was worth a lot of money I am sure you would want half of that. In the same manner the tax debt should be shared too.
Even though you are not a shareholder or director, you are entitled to half of the company value (positive or negative).
All assets and debts acquired during the marriage are split equally. Simple.
Lots of (unscrupulous or stupid) people try to assign debt to the other, but want half the assets. Simply unfair and against family law.
Note that the government (or other creditor) will come after who's ever name is on the debt BUT according to family law all debt has to be split equally, as with all assets acquired during the marriage regardless of whose name is on what.
As for his company tax debt, the same is true, it is an asset or liability of the marriage, that he happens to own, but it is equally yours.
If his company was worth a lot of money I am sure you would want half of that. In the same manner the tax debt should be shared too.
Even though you are not a shareholder or director, you are entitled to half of the company value (positive or negative).
All assets and debts acquired during the marriage are split equally. Simple.
Lots of (unscrupulous or stupid) people try to assign debt to the other, but want half the assets. Simply unfair and against family law.
billm
New member
Of course they don't go after the spouse, or the parents, or the child or anyone else. The credit company goes after the person who the credit company has an agreement with.
The spouse has a marriage contract with the other spouse. The marriage contract is to follow family law.
That means all debt and assets are shared regardless of who owns the asset or debt.
Berner_Faith
New member
Basically what Bill is saying is that while you are not responsible for paying the credit card company directly, you will still take on half the debt as you may receive less (or he may receive more) equalization payment due to this debt.
It's the x who doesn't care about family law. I just need to investigate what he's proposing and see if it's even legal. I will talk to lawyer, but for now I've been presented a sep agreement with a lot of unconventional things. If he doesn't care about his debts and my obligations to it, that's fine by me, I just don't want rev Canada coming at me later!!
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