Outrage is the usual reaction when a former spouse with child support or alimony files bankruptcy. It reinforces all those less-than-flattering thoughts you harbor about your ex. But,maybe, that’s not the right reaction for two reasons, one old, one new. One is old: support debts can’t be wiped out in bankruptcy. The second reason is new: failure […]
Marital Separation Doesn’t Require Two Homes
Split the sheets in California, and your wages are no longer community property. That’s because property acquired during marriage but after a marital separation isn’t community property. That’s been California law for a long while. The sticky wicket has been drawing the line when the marriage has broken down and the couple has separated. “When” they separated determines […]
Divorce And The Ticking Debt Bomb
Debts of the marriage often outlive the marriage itself. And, those left-over debts are nothing but trouble. But too often, divorcing couples don’t mop up the joint debts they held during the marriage, only to have the situation blows up years later when one ex-spouse hits financial trouble. Here’s a true story that illustrates the danger. […]
