Mark Ashton, a partner in our Exton (Chester County), Pennsylvania office and the editor of our Pennsylvania Family Law Blog, wrote an interesting post entitled "Property Settlement Agreements: Be Careful What You Sign Up For", on that blog.
To read the full post, click here.
The post discusses how the Bankruptcy laws impact on divorce matters. The bottom line is that while a debtor may be able to avoid all kinds of debts in a bankruptcy proceeding, if your obligation is to a spouse or your kids, the rules are different and those obligations are going to survive your bankruptcy. The bottom line is that you should make an agreement that is realistic and reasonable, that you can actually pay and not one that you hope you will be able to pay.