Dividing Debt in a Divorce
For most people, the word divorce conjures up images of property division: the house, the car, maybe a retirement account. However, for many divorcing couples today, and especially those where one or both spouses carry a significant amount of debt, the issue isn’t who gets what but who owes what. Debt separation during divorce proceedings triggers both emotional responses and financial repercussions similar to asset division. If you’re contemplating divorce and you owe more than you own, know that you’re not alone. In fact, understanding how Kansas law treats marital debt is the first step toward protecting your financial future.