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Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007
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Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Mar 11, 2020

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Page 1: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Divorce & Bankruptcy:The Train Wreck

of the Law

Randy Wilhite & Tom Kirkendall8:30 a.m., Monday,November 5, 2007

Page 2: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

My niece Meg

Page 3: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Why is an understanding of bankruptcy law important in handling a divorce case?

Page 4: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

The Collision of Public Policies

Page 5: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Pity the poor, non-debtor former spouse

Page 6: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

The Filing of a Bankruptcy Case

Post-petition

Page 7: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Do divorce obligations survive the discharge?

Domestic support obligations(“DSO’s”)

11 U.S.C. § 522(c)(1)

11 U.S.C. §§ 523(a)(5) & (15)

Page 9: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

What’s in and what’s out of the debtor’s estate?

Non-debtor spouse’s property?

11 U.S.C. § 541(a)(2)

Page 10: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Are post-petition earningsproperty of the estate?

Petition Date Post-petition earnings

Chapter 711 U.S.C. § 541(a)(6)

Chapter 1111 U.S.C. § 1115

Chapter 1311 U.S.C. § 1306

Page 11: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Is the Wilhite Family’sLake Travis Estate exempt property?

Page 12: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Planning Considerations

Page 13: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Concluding Thoughts

Page 14: Divorce & Bankruptcy: The Train Wreck of the Law · Divorce & Bankruptcy: The Train Wreck of the Law Randy Wilhite & Tom Kirkendall 8:30 a.m., Monday, November 5, 2007. My niece Meg.

Credits The Cartoons in this presentation are the work of the

incomparable Stuart M. Rees of Stu's Views.