So which should come first, the divorce or the bankruptcy? And how might asset distribution in divorce affect or be affected by the disclosure of assets in an estate headed for bankruptcy? What will happen to real estate (including the marital home, investment real estate and family cabins), boats, jewelry, collectibles, stocks and bonds, bank accounts and household goods? in the divorce, and in the bankruptcy?
There is no pat answer or cookie cutter solution when it comes to coordination of divorce and bankruptcy. This is a difficult legal situation that requires detailed analysis and by a well-qualified bankruptcy lawyer and family law attorney. The challenges can be compounded more if one spouse does not wish to cooperate with divorce preparations or bankruptcy discussions.
Therefore, our best advice for New Jersey residents approaching both divorce and bankruptcy is to talk to an attorney sooner rather than later — even if your husband or wife does not agree to participate in the conversation just yet. Examples of issues that will probably come to light at your initial consultation are the following:
Bankruptcy attorneys and staff at Scura, Wigfield, Heyer & Stevens, LLP, believe that our clients' interests and concerns come first. We invite you to contact one of our lawyers today for a free initial consultation. We have offices in Wayne and Hoboken for your convenience.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.