How should Shared Debts be assessed in the event of a separation?
There are many different ways that Shared Debts can be assessed in the event of a breakup. LawDepot’s prenuptial agreement allows you to select the two most common ways of assessing debts or create your own. The two common answers you can select are “Each party will be responsible for 50% of the debt” and “Responsibility will be based on the financial contribution of each party”. To create your own clause, select “Other” and enter your preferred method for assessing debt in a complete sentence or paragraph. The following is an example of the kind of clause you could create: “Alex will be responsible for 75% of all Shared Debts related to renovation costs. Mary will be responsible for 25% of all Shared Debts related to renovation costs.
