As a bankruptcy attorney, I often receive calls from concerned fiances who don't want to be on the hook for their future spouse's debts. She is desperately in love with him and can't wait to get married. The are meant to be together. But who wants to get strapped for the debts of another person? Love can sometimes go out the window when some garnishing creditor takes all your money out of your bank account.
Just the other day, I was talking with a lady from Hiram GA who was in this type of situation. Her credit is perfect. His was not. This was her first marriage and his second marriage. She has no credit card debt. In contrast, he was $50,000.00 in credit card debt. Her concern is increased further by the fact that her house in Hiram GA was paid off five years ago. As long as she does not put his name on the deed of her house, the asset will be safe from his creditors after they get married. As long she does not sign any contracts with him, her credit will be safe.
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The good news for Georgia residents is that there is no community marital property. As a result, there is no way someone can end up owing debts for the new spouse unless they sign a contract obligating them for this liability. In Georgia, marriage alone does not make you liable for the debts of your spouse. You can go ahead and marry Romeo without worrying about his creditors seizing your bank account.
I practice consumer bankruptcy law only in Georgia. If you live in a state that has community property, call a bankruptcy attorney in your local area and have them review your entire situation.
Even if you live in Georgia, it might be a good idea for him to file bankruptcy before you get married so that you can start the marriage off with a clean slate.
Once you get married, it might also be a good idea for you to file separate tax returns. When you sign a joint tax return, you are jointly liable for any tax debt on that return. I've had so many clients are now divorced but got stuck paying his tax bill because they signed the joint return. "But the accountant said it would lower the tax liability if I filed with him." While that may be true, the end result is that she got stuck owing the taxes.
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