Can Married couple be considered seperate financially?

[firemanup]

What is the name of your state? Iowa

My wife and I have been together for 5 yrs, and married for two. From day one we have always been financially seperate in our minds.

We have our own banking accounts, our own jobs, and pay our own bills. I pay household bills and she pays groceries and whatever other bills she incurrs. Mortgage is in my name only.

She has started a new job where I see the possibility of some liability issues and wonder if we are what we think we are, financially two seperate people, or if because of marriage a third party would be able to come after me financially for her liabilities..

Any opinions would be appreciated.

Thanks

Jason

 

[firemanup]

T.T.T.

 

[slshiv]

I hope I can help but it is always best to check with an attorney... Anyway, My hubby and I Had the same type of situation. We had totally differing opinions on finances and he was self employed. I did not want to incurr any of the risk of his business so we had everything financially seperated. I spoke w/ an attorney and his advice was to keep seperate all monies and property. The house is in my name only, cars are only titled in one name, his and mine... and we file sep but married taxes. Not everyone who is married understands this type of arrangement but take it from me... it can actually save marriages but handling it this way. It takes the stress out of the situation.

 

[VG1013]

What is the name of your state? Iowa

My wife and I have been together for 5 yrs, and married for two. From day one we have always been financially seperate in our minds.

We have our own banking accounts, our own jobs, and pay our own bills. I pay household bills and she pays groceries and whatever other bills she incurrs. Mortgage is in my name only.

She has started a new job where I see the possibility of some liability issues and wonder if we are what we think we are, financially two seperate people, or if because of marriage a third party would be able to come after me financially for her liabilities..

Any opinions would be appreciated.

Thanks



Jason

~~~597.17 Liability for separate debts in Iowa:
Neither husband nor wife is liable for the debts or liabilities of the other incurred before marriage, and, "except as herein otherwise declared", they are not liable for the debts of each other contracted after marriage; nor are the wages, earnings, or property of either, nor is the rent or income of the property of either, liable for the separate debts of the other.

*** "except as herein otherwise declared" if I read this right...there must be some kind of legal written document stating your not liable for one another's debts. I would check into this if I were you.