Originally posted by prozak
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It would, in my view, be wise to discuss it with the solicitors. If the debts are going to be considered personally then it might be worth considering accepting them and settling. e.g.
Joint assets 250,000
Tax Debt 50,000
If the debt is considered matrimonial then a 50/50 settlement would be 150,000 to the party with the debt (to allow it to be repaid) and then 100,000 to the other.
If the debt is not considered matrimonial then it's 125,000 each, but if the debt comes to fruition then this means one part gets 75,000 the other 125,000.
I'm guessing marcusss is the male so a 50/50 split is unlikely.
A better place to ask the question might be Free Divorce Advice | Solicitor Divorce only £179
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