Marital Property – Liabilities

Marital debt must also be considered in the equitable division of marital assets and liabilities. It is not important whose name is on a particular loan, credit card, or store charge; what matters is whether it was used for the benefit of the family as a whole or for that of the individual person. Thus, credit charges related to a family vacation will be considered marital while those related to a trip to the casino by one of the parties will not.