Do you share your spouse’s debt when you get married?

There are many things to consider when you are thinking about tying the knot, not least aspiring that you’ve found the one with whom you will share the rest of your years. One aspect of marriage that can often bring concern and strife are household finances.

Before marriage, in most cases, both spouses will have acquired their own assets and incurred their own debts. But what happens to those after you’ve exchanged vows?

Do you share your spouse’s debt when you get married?

Generally speaking, what you possess separately prior to going into the marital union, is each spouses own whether assets or debt according to Experian. That is unless, before or after the fact, you commingle or add to them.

Your responsibility for debts taken on by your spouse after you say “I do” will depend on the type of debt and the state where you live and its laws. Also, whether you are a co-borrower on the financial liability incurred.

There are two main types of state laws that come into play on how postnuptial debt is treated: common law and community property law, but there may be nuances as to how the laws in each state are applied.

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How common law states treat spousal debt

Common law, or equitable distribution, is used in the majority of states. Generally, in these states each spouse’s personal property acquired separately after wedlock is not automatically shared legally.

That, however, would not be the case for debt that both spouses co-sign on or debt taken out together. For example, if both spouses names appear on a loan, they would both be equally responsible to repay the debt.

Likewise, both parties in a married couple would be on the hook to pay back a personal debt taken by one spouse “for family essentials that benefit them equally.” Examples of this would be food, housing or school tuition for children.

How community property law states treat spousal debt

On the flip side of the coin, in community property states, “married couples are viewed as jointly and equally owning nearly everything together.” Assets and earnings are considered “community” property to be shared equally among both parties.

As well, any debt incurred during the marriage by either spouse, both are equally responsible for repaying it. That’s even if it was done without the knowledge of the other. And should one spouse die, the other may still be responsible for repaying any debt assumed during the marriage.

There are nine states that have community property laws. In the case of California, Nevada and Washington, registered domestic partnerships are treated the same under each state’s community property laws as married couples.

While Alaska, South Dakota, and Tennessee are common law states, couples are allowed to opt into a community property arrangement if they choose.

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