Legal Question in Bankruptcy in Wisconsin

If one spouse files bankruptcy in WI without the other spouse participating, bad things can happen to both if the couple has anything to lose. Only the filing spouse can claim the legal exemptions which prevent creditors from seizing assets in bankruptcy. This leaves the nonfiling spouse exposed to seizure by the trustee of real estate, pensions, bank accounts, vehicles or anything else of value, since the filing spouse owns a 50% share of all such items under the WI Marital Property Act. This hurts both spouses because if they later get divorced, there will be 50% less to divide between them in family court. Single spouse filings therefore create the worst of all possible outcomes for both in WI and should be avoided it at all possible. Both spouses will benefit greatly if they can remain on speaking terms long enough to cooperate with the same bankruptcy attorney and accomplish a filing before they divorce. Filing before the divorce will also leave fewer issues to fight over in divorce court later, since many debt issues will go away. My answer here does not make me your lawyer, so you need to consult one of your own before acting upon this. For further discussions, you may contact my office at 333 Main St, Racine, WI 53403, 262-633-3090, during business hours, or see me on the web at www.jayknixonlaw.com. See over 15 years of my previous answers to consumer questions at http://www.lawguru.com/answers/atty_profile/view_attorney_profile/jknixon. Attorney answers may contain advertising materials.