Dealing with even one of these two major legal issues can be challenging, but when both bankruptcy and divorce are in your future it can be doubly so. The key to not just surviving these events but getting what you need out of them is to plan ahead and pay attention to the order you file for each. The order of filing that's best for your situation depends on several factors, so read on to learn more.

When your debts are out of control

Most people don't consider a bankruptcy filing to be a frivolous matter and many put it off for far too long. While it's important to fully consider your options before making such a serious move, waiting too long might put you in such desperate financial shape that you are having trouble making ends meet and debt seems to be piling up. Once you file you can enter your divorce process free of a huge chunk of what might be considered marital debt, meaning you'll have one less issue to debate about in divorce court.

When your property is at stake

To keep property during a bankruptcy you are allowed exemptions. These exemptions can be used to lower the value of something and keep it from the trustee's hands. If you and your spouse hold a lot of property that might be in danger of being seized you might consider filing jointly before you divorce. Married couples get to double-dip on the exemptions where a single person's exemption may not be enough to allow you to keep your asset.

When your income is a problem

A fairly recent retooling of the bankruptcy codes put some provisions in place that are meant to prevent wealthy people from abusing bankruptcy to get out of debt. Unfortunately, almost any filer that makes more than their state's median income could get caught up in this income net, even those that do not consider themselves wealthy.

It also means that even if you file bankruptcy singly your spouse's income is counted when it comes to the so-called "means test". When two incomes make it impossible to file bankruptcy, you would be better off waiting to file alone after the divorce. Any debts that you leave the marriage with can be included in this post-divorce filing which might help you to face single life making a fresh financial as well as personal fresh start.

Contact a divorce law attorney for more information.