1.9 Debts and Liabilities
In this Section
The parties have debts and
liabilities.
Shown in Figure 1, the dialog presents you with the options, "The
parties have no debts and liabilities." and "The parties have
debts and liabilities. The court should make a fair and equitable division of all
debts and liabilities."
Figure 1
For this demonstration we will select the latter, "The parties have debts
and liabilities. The court should make a fair and equitable division of all debts
and liabilities." After we make our selection, additional selections
and options are presented in the dialog window, see Figure 2.
Figure 2
The new selections shown in Figure 2 above are:
- "The division of debts and liabilities should be determined by the court
at a later date.",
- "The petitioner’s recommendation for the division of debts and liabilities
is set forth below.",
- "Each party should pay their debts incurred since separation.",
and
- "Other:"
For this demonstration we will select, "The petitioner’s recommendation for
the division of debts and liabilities is set forth below."
and "Each party should pay their debts incurred since separation."
Figure 3 below shows the additional information requested whew we
select these options. We have also added in the petitioner's list of debts and
liabilities, "Bank of America, Home Mortgage", Amount Owed
"50,000.00", "Community Debt", and
checked the selection, "Include in Findings".
Each item we enter has a drop-down-list where you must select either "Community"
or "Separate" property for each item. This selection
is required so that the program can default your responses into the correct paragraph
(2.10 Community Liabilities & 2.11 Separate Liabilities)
of the Findings of Fact and Conclusions of Law.
The checkbox following the drop-down-list is whether you want to include the item
in the Findings of Fact and Conclusions of Law, by default the box
is checked each time you enter a new liability. Usually you would only unselect
the item when dividing liabilities, see Dividing Liabilities
to understand this checkbox.
Figure 3
Dividing Liabilities
One option for dividing a liability such as a USA Credit Card Account
is to list the Credit card in “Company or Person whom debt is owedâ€
for petitioner and respondent and explain the division. Then unselect the "Include
in Findings" from either the petitioner or the respondent's listing
so that it does not duplicate in the "Findings of Fact and Conclusions of Law".
Using Exhibits
Using Exhibits in dialog 1.9 Debts and Liabilities is the same as
in dialog 1.8 Property and is explained in detail, see
1.8 Property Using Exhibits.
Document Preview
Figure 4 shows the Document Preview window using the information detailed in this
demonstration.
Figure 4
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