Responsibility with caution: Wife need not be married to husband's debts

If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Ways to ring-fence her assets

In a business family, a husband typically makes the wife a director or a partner in his company to ensure complete control. The wife has little idea of the business activities and dealings. Only when the company defaults in repayment of a loan, the wife realises the consequences of signing documents without being fully aware of the repercussions. A lender can attach any asset that belongs to the wife to recover the loan. “We are increasingly coming across such cases. Women just sign on papers when asked by their husbands without realising the consequences. Now, we have orientation programmes for