Winter 2020 Family Law Newsletter: Which should be filed first, divorce or bankruptcy?
The recently published Winter 2020 Family Law Newsletter assesses the potentially complicated interplay of divorce and personal bankruptcy.
The timing of filing for divorce versus bankruptcy depends on a variety of factors. For example, filing for bankruptcy first could make sense when an individual is simultaneously saddled with substantial debt and a failing marriage. A bankruptcy temporarily stops creditors from seeking repayment and delays all legal proceedings, including the division of assets in a divorce case. Other circumstances, such as an amicable split, may warrant filing a joint bankruptcy before filing for divorce.
The newsletter, published by partner Gary Owen Todd, analyzes other important issues, such as the need to exercise caution in creating trusts while in the process of getting divorced, and the risks of do-it-yourself apps for preparing divorce papers.
Mr. Todd, a Founding Partner at the firm, is recognized locally and nationally as a preeminent family law attorney concentrating on domestic relations and probate litigation. He has successfully negotiated, mediated and tried numerous family law issues at the trial court and appellate levels.