How do I prevent my new spouse's debts becoming my liability?

Are you married to him yet? If you are, you're out of luck.





If not, arrange for a prenuptial agreement in which you specify that any debts either of you accrues prior to or during the marriage will remain that person's responsibility if the marriage should end.





Suze Orman's books are a pretty good source of advice about just this kind of thing. Check out this article: http://www.oprah.com/living/lifemake/exp鈥?/a>





If it's not too late for you, you might want to check out one of her books.How do I prevent my new spouse's debts becoming my liability?
As long as you don't sign any paperwork on the debts (and as long as your spouse doesn't added you as a user of the account) they will not be listed under your credit report.





For example- let's say your spouse has a Citi Visa card with a balance of $10,000. The only way this would be considered a liability under your name is if you were added as a co-borrower on the account.





In some situations you could be added as an Authorized User- with this status the account wouldn't be included against your debt ratios if you were to apply for a mortgage, car etc. At the same time though if a payment is missed (30 days late or more) it would be a blemish to your credit.How do I prevent my new spouse's debts becoming my liability?
Keep you maiden name, do not change your social security card name and sign a prenuptial agreement that states that all existing debts by either person are to remain theirs after marriage.
Don't marry him!





No, seriously. That's the only way to keep from getting intertwined at all.





But, short of that, the easiest thing is to keep your maiden name, and most importantly, NEVER get a joint account with him on anything. Then they'll have no reason to associate you with him. If you have a separate address, so much the better!
keep you last name,,


don't change your social security card





My dad used to tell me if I carried a snake around in my pocket not to complain when it bit me,, cuz it's not the snakes fault ,, it's just the nature of the beast. If you love a man with bad credit,, expect to have this as long as you are married to him,,
Interesting question -and there are several answers. Some debts -such as back taxes owed- may be (or not be) yours depending on whatever statutory provisons apply. Credit card debt of a new spouse would not normally be yours unless you're on the account with the spouse. But this separation may not be meaningful for very long; the longer you are together, the more likely that the earnings and assets of each partner may be used by the other. And what if credit card debt belonging to one spouse is transferred to a lower interest deal on a card in both names? You get the idea.





Then of course, there are always the ';understandings'; you and the spouse have between you - for example, if the indebted spouse pays for something you would otherwise buy, does that create a debt running from you back to the other spouse? All of this tends to be grist for the divorce settlement down the road when the whole mess blows up in everyone's face.





If the new spouse's debts can be closely defined and segregated from financial activity after you're married, perhaps a contract between the two of you may help keep it that way. You cannot, of course, write a contract that says his/her debt will never be yours because no one knows what lies ahead and such a contract would not operate to encumber the right of any third party. But you can specify indemnity -so that the indebted spouse agrees to pay you in case you end up being responsible for his/her debt. Then the question is ...where's the money going to come from.





If you guys have issues about this, best thing is to lay it all out before a qualified financial counselor (CPA, most likely) and see what options are open to you.





Good luck!