It is not uncommon for debt, bankruptcy and divorce to all go hand-in-hand. As financial pressures mount, so do the stresses upon the marriage. Whether or not those financial concerns ultimately contribute to the divorce, they must be considered in the division of property and assets.
Just like property, houses, cars and accounts must be split in property division, so must all debt held by the couple. If that debt is enough to cause them to go into bankruptcy, the timing of the divorce and the division of property becomes critical.
We Can Help You Plan For A More Secure Financial Future
At Buffalo Grove Law Offices, our Arlington Heights bankruptcy and divorce lawyer thoroughly understands how these two issues can affect each other. We are committed to helping couples and families create a timeline that will best work to their advantage, preparing both spouses for the most financially secure future possible. We will assess whether it is more advantageous to file before or after divorce. In some cases, the timing of these events could prevent the couple or either spouse from having to go through bankruptcy.
Just as we provide thorough valuation of property and assets, we will closely evaluate your debts and obligations, determining which spouse should appropriately be responsible for which debt. We will help to create a fair and equitable division of this debt and do so in a manner that serves our clients, both now in the division and in the future as they move past the divorce.
It is important that you have knowledgeable guidance at your side during this process. Without such insight, you could do great financial damage to your future, enduring hardships that could have been avoided.
An attorney entered into a written agreement with Jason. Attorney agreed to represent Jason in a divorce. Jason agreed to pay the attorney $375 per hour for his services with an initial retainer of $5000. At the time they made the agreement, Jason told the attorney in writing that all billing should be sent to…Read More