If I’m sued for doing something really really stupid that messes up somebody’s life, I shouldn’t be financially liable because my wife had nothing to do with it?
That’s a new one.
Actually it’s a very old one and since 1998 innocent spouse laws have been expanded to tax relief laws.
You are still financially liable but any assets you co-own with your spouse are deemed to be held in undivided interest and thus are insulated from attachment.
If you are one of thse sneaky spouses that keeps a seperate bank account hidden from your other half, that would be free game as would future earnings.
” ...I shouldn’t be financially liable because my wife had nothing to do with it?”
Most savvy businessmen/professionals are sure to have their valuable asets either in joint names or the wife’s name so it can’t be gotten to in a case like this. Of course in the case of a divorce ...