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Now completely revised and updated, The Family Lawyer’s Guide to Bankruptcy is a valuable and concise resource for understanding the sweeping changes to the Bankruptcy Code as it affects divorce and divorcing parties.
Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), a bankruptcy filing is substantially more difficult and eliminates some of the benefits that used to be available. However, the root causes for the filing of bankruptcy remain: about a quarter of all bankruptcy cases are caused by divorce, often due to the costs of maintaining two households on a single salary, uncovered medical expenses, failing businesses, and job loss. Therefore, there are still situations in a divorce case where a bankruptcy case may be beneficial to both spouses.
The Family Lawyer’s Guide to Bankruptcy offers practical and current guidance on how bankruptcy law affects divorcing spouses, updating the caselaw that has developed under the 2005 BAPCPA legislation. It begins with an overview of bankruptcy law as it pertains to the particular needs of a practicing family lawyer. The first part focuses on the discharge exception provisions applicable in the divorce arena, with an emphasis on the two most common exceptions:
The book’s second part presents a general overview of the bankruptcy system and highlights the ramifications of bankruptcy in a divorce situation. Among the aspects defined and explained in this section include:
Detailed notes provide in-depth explanations of issues covered in both parts of the text.
Appendixes, which are also contained on an accompanying CD-ROM, provide essential information for the family lawyer. These include: