prometheus399
New Member
My wife is currently exploring the possibility of acquiring a business or starting a successor business after her current employer closes later next year. To this end she is considering taking out a substantial bank loan, signing a lease for office space, and signing contracts with customers.
I am not going to co-sign on any liability but I am concerned that under family law I might ultimately be held liable for some or all of the financial obligations she incurs.
Under California law are the liabilities she incurs while we are married considered joint? IOW, upon disolution of the marriage we must divide the assets acquired during the marriage, do we also divide liabilities?
If so, is there any action I can take either before or after she signs that will limit my liability?
I am not going to co-sign on any liability but I am concerned that under family law I might ultimately be held liable for some or all of the financial obligations she incurs.
Under California law are the liabilities she incurs while we are married considered joint? IOW, upon disolution of the marriage we must divide the assets acquired during the marriage, do we also divide liabilities?
If so, is there any action I can take either before or after she signs that will limit my liability?