The $11.4 million exemption for 2019 will remain in place and may increase slightly from year to year since it may be adjusted for inflation. The TCJA is slated to expire in 2025, so it may be that the exemption goes back. Continue reading
With the recent changes in federal and Ohio law, LGBT couples are now afforded the same right to marry previously only granted to the union of a man and woman. There is the fair expectation that some of these marriages will similarly end in divorce or dissolution. While many of the legal issues involved in the termination of an LGBT marriage are the same as those traditionally between a man and a woman, there are some important distinctions and issues that need to be addressed.
Question: What do bankruptcy and divorce have in common?
Answer: Both can provide a chance for a fresh start.
Which should I do first: Divorce or Bankruptcy? And,
should I file with or without my soon to be ex-spouse?
As with many questions asked of an attorney, the answer is “It depends.” Bankruptcy and divorce are two separate legal processes that often go hand in hand, but one can have a negative impact on the proceedings of the other. A complex analysis is often needed to be able to realize all the benefits of a bankruptcy filing.