Is my business marital property?

Is my business marital property?

All business interests, whether in a partnership, sole trader, company or trust structure, can be treated by the court as ‘property’ as defined by the Family Law Act, and must be attributed a value. …

Is it illegal to open a credit card in your spouse’s name?

In short, the answer is no: it is illegal for a spouse to open a credit card in his or her partner’s name. However, when spouses open credit cards in their partners’ names, they start to accrue debts on their partners’ accounts that they may not know about.

When you marry someone does their debt become yours?

Debts you and your spouse incurred before marriage remain your own individual obligations—but you’ll share responsibility for debts you take on together after the wedding.

Is it OK to hide things from your spouse?

According to relationship experts, a lot depend on how you communicate or the way you share information with your partner. “Relationship is about mutual trust, care, empathy, respect, concern and healthy communication. One should not hide anything from one’s future partner. However how to express is also an art.