Equalization considers each spouse’s net family property, meaning debts and liabilities aregenerally part of the calculation. Common debts considered in equalization include: mortgages; lines of credit; credit cards; personal loans; vehicle loans; tax debts; business debts personally guaranteed by a spouse; shareholder loans; student loans; judgment debts; family loans, if genuine and enforceable; and contingent liabilities, where properly valued.However, not every alleged debt will necessarily be accepted at face value. The court mayexamine whether the debt is legitimate, documented, incurred in good faith, connected to thefamily, or artificially created to reduce equalization.