Divorce: When a Spouse or Former Spouse Files Bankruptcy

Understanding the Impact of Bankruptcy on Domestic Support Obligations, Property Settlements, and Taxes

A live 90-minute CLE video webinar with interactive Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Tuesday, October 18, 2022 (in 12 days)

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

or call 1-800-926-7926

This CLE course will address the interaction between bankruptcy, divorce, and property divisions. The program will discuss whether to file bankruptcy or divorce first and why it matters; which bankruptcy chapter may be best for certain situations; how bankruptcy affects the division of property and sales of businesses; whether spouses should file jointly or individually; how third-party creditors can join or be joined in a divorce case.

Description

Divorce and bankruptcy often go hand-in-hand. The parties’ counsels must address a dizzying array of factors because bankruptcy can upend the financial plans and goals of divorced or divorcing spouses for the benefit of third-party creditors.

The bankruptcy court can recharacterize support as property division and loans as equity--or vice versa--with significant consequences. Property that can satisfy creditors in bankruptcy is difficult to determine, varies in community property and equitable division states, and turns on which chapter of bankruptcy is filed, exemptions allowed, and even residency.

The law is unsettled and fact-specific for many financial assets, such as education savings accounts, pre-paid tuition, net operating losses, and other tax attributes.

Listen as this panel of experienced bankruptcy and family law attorneys discusses best strategies for achieving the parties' financial goals when divorce and bankruptcy are factors.

READ MORE

Outline

  1. Bankruptcy provisions that matter the most
    1. Definitions relevant to divorce counsel
    2. Automatic stay: what is it, and when does it apply?
    3. Recharacterization
    4. Exemptions
    5. Avoidance powers
    6. Discharge
  2. Differences between Chapter 7 and Chapter 13
  3. Chapter 11 and Subchapter V issues
  4. Tax issues

Benefits

The panel will review these and other key issues:

  • Sequencing divorce and bankruptcy
  • Domestic support obligations
  • Automatic stay
  • Tax considerations when a spouse or former spouse files for bankruptcy
  • Provisions to include in the property settlement agreement relating to bankruptcy

Faculty

Berenji, Hossein
Hossein Berenji

Founder & Lead Attorney
Berenji & Associates

Mr. Berenji, owner of Berenji & Associates, is a seasoned divorce lawyer with a practice focused on...  |  Read More

Hirsch, Lawrence
Lawrence D. Hirsch

Attorney
Parker Schwartz

Mr. Hirsch has practiced in Phoenix for 30 years and has a broad range of experience in all aspects of Bankruptcy...  |  Read More

Nussbaum, Randy
Randy Nussbaum

Attorney
Sacks Tierney

For more than 40 years, Mr. Nussbaum has assisted individuals and businesses with complex bankruptcy protection (debtor...  |  Read More

Pikus, David
David H. Pikus

Principal
Bressler Amery & Ross

Mr. Pikus has been actively engaged as a litigator for over three decades in New York and New Jersey. Devoted to...  |  Read More

Attend on October 18

Cannot Attend October 18?

You may pre-order a recording to listen at your convenience. Recordings are available 48 hours after the webinar. Strafford will process CLE credit for one person on each recording. All formats include course handouts.

To find out which recorded format will provide the best CLE option, select your state:

CLE On-Demand Video

Download