BANKRUPTCY & DIVORCE

BANKRUPTCY IN AMICABLE DIVORCE

"AMICABLE" DIVORCE

If a husband and wife are in the fortunate position of remaining on relatively civil terms as they contemplate a divorce and a potential  bankruptcy   for  one  or  both, some advance  strategic planning  can improve  their post-divorce  financial  situations. A joint bankruptcy petition filed prior to divorce can save on filing and attorney's  fees, but could also reduce the total amount of property that could be exempted from the bankruptcy estate.