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For Doctors and Other Couples
[By Staff Reporters]
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.
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Assessment
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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OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:
- PRACTICES: www.BusinessofMedicalPractice.com
- HOSPITALS: http://www.crcpress.com/product/isbn/9781466558731
- CLINICS: http://www.crcpress.com/product/isbn/9781439879900
- ADVISORS: www.CertifiedMedicalPlanner.org
- FINANCE: Financial Planning for Physicians and Advisors
- INSURANCE: Risk Management and Insurance Strategies for Physicians and Advisors
- Dictionary of Health Economics and Finance
- Dictionary of Health Information Technology and Security
- Dictionary of Health Insurance and Managed Care
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Filed under: Financial Planning, Risk Management | Tagged: SPOUSE DEBT | Leave a comment »
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