Will I be responsible for my partner/spouse's debt?
I am often asked whether a client will be responsible for his/her spouse’s debts? It depends on how the debt was incurred. Colorado is an equitable division state and consequently property and debts are divided fairly. In other words, if both parties derived benefit from the debt, such as through the purchase of food or payment of automotive expenses, quite probably that debt will be divided equally. On the other hand, if the debt was for one party's gambling, or purchasing a vacation for only one party, or the excessive purchase of clothing for one party, it is quite likely that only the party that benefited from that debt will be liable.