How do I ensure that all of our marital debts are resolved in a collaborative divorce?

In California, collaborative divorce law requires both parties to negotiate in good faith and to be honest about their finances. To ensure that all marital debts are resolved, the parties should create a document outlining their debts and assets, as well as a plan for how they are going to pay off or divide them. The parties should consult a financial advisor or accountant to ensure that the document is accurate. The advisors can also help the parties negotiate a fair division of assets that takes both their financial needs and future earning potential into account. The parties should also consider discussing any debts that cannot be divided between them, such as a joint mortgage or loan. They should develop a plan to pay off the debt in a way that works for both parties. If necessary, they should also take steps to transfer a debt to one party or to refinance a debt with another financial institution. Finally, the parties should develop a plan for how they will handle any future creditors or debt collectors. For example, they could set up a joint account to pay any joint debts, or they could agree that one party will take responsibility for a debt and will repay it on their own. Having a well-crafted document outlining the finances of the parties, as well as a plan to pay off or divide the marital debts, is the best way to ensure that all of the debts are taken care of in a collaborative divorce.

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How do I ensure that all of our marital debts are resolved in a collaborative divorce?

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