I had spent at least six hours with the clients over several months, strategizing about extracting them personally from a cratering business situation, when he said, “Oh, I haven’t told you about…” Others at the meeting said my eyes popped and I’m sure my face fell. He owned another business corporation, which had assets, […]
Can You Afford To Help Your Competitors?
Why should I help my competitors? That was the query of a highly experienced bankruptcy lawyer I met at the Northern California Bankruptcy Forum last week. I heard the same push back on one of Jay Fleischman‘s listserves from a participant who didn’t want to share with others in his professional community an upcoming education […]
Prove It!
Kismet, def. fate or destiny, seemed to be in play this weekend. Or maybe it’s that I’m like a magpie with a fixation on books rather than shiny objects. But the first thing that caught my eye in the exhibitors hall at the Northern California Bankruptcy Forum this weekend was the NCLC book on evidence. […]
Maybe You Already Knew…
I learned something new last week and it took the ***!#### means test to teach it to me. The case involved a couple where the non filing wife ran an interior decorating business. The income and expense information we were presented with showed “lots” of money flowing through the business. Subtract the given business expenses […]
Stop Wrestling With Lien Stripping
If there’s a bright spot in the midst of this recession, it’s the thrill bankruptcy lawyers get in stripping mortgage liens from underwater property. Action taken at the depths of home values will benefit clients long into the future if the client can hang on to the home til things recover. Yet I hear […]
It’s Not Smart To Overpay
Some mistakes the Chapter 13 trustee will call you on; others go unremarked. So let’s discuss some simplistic thinking that has your Chapter 13 client paying too much into the plan. I’ve reviewed any number of newbie plans that use the non exempt equity in the debtor’s possessions as the liquidation premium. […]
A New Wrinkle With Client Age
This seems to have been my season for issues driven by testamentary, or pseudo testamentary transfers. Estate planning is a big issue that requires independent consultation like Stone Arch Law Office, PLLC – Estate Planning Law Firm does. I’ve encountered the post petition trust beneficiary; the client with an unanticipated prepetition interest in a probate […]
