OK, readers. It’s time for a pop quiz. How many non bankruptcy, federal exemptions can you name? 1. 2. 3. If you didn’t get past the exemption for Social Security, read on. Section 522 (b)(3)(a) provides that a debtor who elects the applicable state law exemptions can also exempt property under federal, non bankruptcy exemptions. […]
New Year’s Resolutions: What Challenges Me
I asked you last week to identify the challenges in your practice. I heard cries for more clients, for mentors, for new skill sets. Turning the focus around, I thought about what I wanted to do differently or better this year in my practice. Here’s my list. Communicate the bankruptcy grounds rules to clients more […]
What Did The Lawyer Miss?
Something was missing: the brief on behalf of a creditor with a lien argued vigorously that the lien couldn’t be stripped in a Chapter 13 in which no discharge was available. Silence as to the other side of the argument. The one sided brief resulted in not only a loss on the client’s issue, but […]
What’s Your Next Challenge?
Ever feel like the practice of consumer bankruptcy law resembles crossing the chasm on a rope bridge? In the dark? I assure you, you are not alone. In one of my first contested matters in bankruptcy, probably within 18 months of passing the bar, and the same distance from adoption of the Bankruptcy Code, I […]
Friday Freebie
Budget flat? Business slow? How about a federal practice manual, on line, for free? Check out the Federal Practice Manual for Legal Aid Attorneys. It’s not shopworn: we don’t have enough of those legal aid heroes to smudge the pages. To expand your bankruptcy practice beyond drafting schedules, you need litigation skills. Here’s a […]
Avoid Probate: Lose The Property In Bankruptcy Instead
Whether it’s fear of the cost of lawyers or joinder in probate-phobia, the public’s do-it-yourself testamentary substitutes can have ugly consequences when bankruptcy looms. “When the individual who is supposed to benefit from a parent’s accumulations files bankruptcy, the cheapo alternative to a will or trust can cost the players the property”, said probate lawyers […]
When The Means Test Is Not So Mean
It isn’t often that the newspaper provides ideas for this site, whose focus is polishing new bankruptcy lawyers. But a story on the surge in cost for health insurance based on a study by the Commonwealth Fund reminded me to remind you: the means test allows deduction for the cost of health insurance, even […]