Legal Question in Bankruptcy in California

bankruptcy

My wife and I seperated Aug. 2001- I stayed in the family home until we sold it last year June 07. We hope to get the divorce complete this month. She is talking about filing bankruptcy--Does this effect me? Capital gains on the house? Does it matter if she files b/4 divorce is final or after?

Thank you in advance


Asked on 1/03/08, 2:50 pm

1 Answer from Attorneys
Allen Farshi Law Offices of Allen Farshi

Re: bankruptcy

This is a very involved and complicated matter, requiring a thourough evaluation of your divorce, your tax basis, and each spouses income, family court orders etc. Your income will most probably come up in her bankruptcy unless your divorce is finalized before she files for bankruptcy. Your debts are community debts subjecting you to collection action by your creditors. The sale of the family home will most likely be construed by your creditors as a fradulent conveyance. Call me if you dont mind paying a consultation fee.

Good Luck

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Answered on 1/07/08, 1:44 am


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