Bankruptcy and Divorce – How Do They Affect Each Other?
Bankruptcy and divorce are both difficult decisions to consider, and considering them at the same time raises some concerns and questions. Financial concerns are often the focal point of divorce. Research has shown that how to divide marital property, both personal and real estate, has caused more stress and frayed nerves than other aspects of a divorce, with the exception of the ongoing care and nurturing of minor children. As many states, including Florida, use equitable distribution rather than equal distribution, the job of determining what is non-marital and what is marital becomes vital to the process of division of...