Free Legal Tool
See how debt factors into a simplified equalization estimate — debts reduce net worth just as assets increase it.
Estimate only — not legal advice. A full equalization also accounts for date-of-marriage values and exclusions.Debts factor directly into equalization, just as assets increase net worth.
A creditor can pursue either joint debtor for the full amount, regardless of a separation agreement.
You're generally not liable for your spouse's solely-held debt to a creditor, though it still affects their NFP.
Debt you had on the date of marriage is generally deducted, similar to premarital assets.
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</p>Our Toronto family lawyers can help you understand how debt actually factors into your settlement. Get a free consultation.
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