My husband and I have been married for almost eight years. Before marriage, we had a prenuptial agreement where his RV and truck remained his to do anything, as my home and car remained mine.
His RV is his pride and joy and his “human cave” on wheels. I recently found out that his RV is upside down. He owes him $ 75,000 more than it’s worth. My concern is that if something happens to him, I will end up with a seizure in my home.
My name is not RV, nor is his name in my home. Your help and thoughts are very valuable. Thank you.
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Dear Mary Ellen,
It was a clear prenuptial agreement. What is yours is yours and what is his, and everything you earn during your marriage, I guess, is shared. More or less. It sounds like you want to mix your life, but not your finances. The boys love their toys and he is obviously proud of his male cave on wheels and for him it was and is important that this is his and only his. This is good news for you: You are not responsible for this debt if only its name is on loan.
Municipal Property ̵
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According to the American Bankruptcy Institute, there is one big exception to these rules. You are responsible for your spouse’s medical debts according to a legal theory called the Doctrine of Needs. “The needs rule is not limited to medical bills. This may apply to utilities, rent, food, clothing and any other needs, but the most common case using this legal concept is in the collection of medical debts, “it said. (At least two states, Virginia and Alabama, have disputed this.)
“In Nebraska, when you marry someone, you marry someone’s future medical duties. If your spouse has medical obligations during the marriage, you are responsible for the debt. Even if the bills only come in your spouse’s name. Even if you have not signed for the debts. Even if you have not authorized the treatment. Even if you are separated. In Nebraska, when you marry someone, you marry their future medical responsibilities. This doctrine has been adopted in the courts of Nebraska, “the institute added.
The Moneyist:My husband and I are worth $ 3.7 million, but I’m afraid I’ll make my way to the poor house if he dies. When I was single, I bounced checks. What can I do?
However, this does not take into account the indirect costs of a spouse who has debts. You started your marriage with your eyes open, so you need to continue in that spirit. Organize a monthly budget so you know where your red lines are and how much you need to earn to keep your books in balance, and set aside money for an emergency fund. You may want to see if your spouse can reduce his or her expenses to pay off your RV debt sooner rather than later. You are a team.
Worst case scenario: If your spouse is unable to repay the debt due to his RV, he will obviously be repaid by the company. If you or he loses his job, on the other hand, the other spouse will probably take the burden and help the other. Should he ask you to help with the payments of his RV? This is a completely different matter. We hope this doesn’t happen, Mary Ellen, and you and your husband will have a long and happy life together and some memorable trips in his RV.
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