Going through a divorce is stressful enough, but the financial consequences of a divorce can cause ongoing hardship as both parties attempt to accommodate legal fees, changes in household income, child support payments and other similar obligations related to family life. In some cases, bankruptcy arises as the product of divorce. In others, financial problems were partly to blame for a contentious family life.
At the Law Offices of Thomas P. Kelly III, we understand the complex nature of these issues and the toll they take on our clients' finances. We strive to provide recommendations that meet their needs and clarify their legal options while encouraging them to keep a level head about what will help them move forward most effectively.
Attorney Thomas P. Kelly III works with each of our clients directly, thoroughly analyzing their financial situation and their goals. How important is it to keep the family home? Which assets are worth keeping and which are best left to liquidation in bankruptcy? These are answers you can only find by working with a legal adviser who knows your specific needs.
To reach an experienced lawyer who can walk you through the bankruptcy process with confidence, contact our firm online or by telephone at 707-545-8700. Divorce debt relief is just a phone call away.
A Santa Rosa Attorney To Help With Bankruptcy During Divorce
Choosing to file a bankruptcy before a divorce is typically the most fiscally responsible option you have. Joint filing fees match those of individual filing fees, so why double up on these as individuals when you can share the cost? Divorcing couples are not able to file jointly the way married couples are, even if your debt issues were caused by actions taken during your marriage.
Furthermore, the community property laws in California can create additional liabilities that should be addressed prior to getting a divorce. You do not want financial issues from your marriage to arise in the midst of your bankruptcy filing after your divorce is final.
In rare instances, one individual is solely responsible for a series of debts. Responsibility here is determined by legal responsibility rather than by who each party tries to blame for debt. In this instance, if legal responsibility falls on only one individual, then it may be better to file for bankruptcy after a divorce.
It is best to work with an experienced lawyer before making decisions regarding your finances and bankruptcy filing as you go through a divorce.
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