Bankruptcy Issues Same-Sex Couples Face
Bankruptcy is a major financial problem faced by many couples in the United States, and same-sex couples face unique issues as they consider filing for bankruptcy. It is important for same-sex couples to understand their rights and the potential ramifications of filing for bankruptcy.
Filing jointly can be difficult for same-sex couples because some states do not recognize their marriage. This means that creditors may file separate lawsuits against each partner if one of them has significant assets or income that should have been divided during the bankruptcy process. Additionally, there are state exemptions that are different from federal exemptions so it's important to be aware of both sets when considering filing bankruptcies together or separate.
Furthermore, same-sex couples must also consider how filing jointly will affect their ability to receive government benefits such as Social Security and Medicaid.
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