Bankruptcy Mastery

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A Bankruptcy Exemption Planning Basic

By Cathy Moran, Esq. Filed Under: Exemptions

The most elemental exemption planning tool is to save exempt assets while consuming non exempt assets. It doesn’t require last minute transfers or fundamental alterations in the way assets are held.  It simply requires attention to which pocket the debtor pays bills from. Clients who receive Social Security, disability, or other forms of income that […]

Filed Under: Exemptions Tagged With: exemptions, filing bankruptcy, property of the bankruptcy estate

Client Horror Story Contains An Asset Of The Bankruptcy Estate

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

Do you recognize your client’s tale of woe with prior professionals or not-so-professionals as signs of an incipient asset? A new bankruptcy lawyer was telling me about his client’s dealings with a loan modification lawyer he called a fraudster.  That relationship  resulted in a near foreclosure on the client’s home while the prior lawyer was […]

Filed Under: Bankruptcy Practice Tagged With: assets, filing bankruptcy, property of the bankruptcy estate

Bankruptcy Estate & The Realtor’s Open Escrow

By Cathy Moran, Esq. Filed Under: Bankruptcy Practice

Real estate for sale

How can bankruptcy trustee’s demand the debtor’s real estate commission from  escrows open when the bankruptcy case is filed? Twice this month, I’ve watched debtors and their counsel surprised by the turnover demand of Chapter 7 trustees for the proceeds of a real estate transaction pending when the case commencement, but closing weeks after the […]

Filed Under: Bankruptcy Practice Tagged With: practice bankruptcy, property of the bankruptcy estate, real estate

Exemptions & Property of the Estate

By Cathy Moran, Esq. Filed Under: Exemptions, Start Here

sorting assets

Sometimes, as an inexperienced bankruptcy lawyer,  it’s hard to get your head around the idea that your client can have an asset of substantial value and not need to exempt it when filing bankruptcy. That’s because only property of the estate is potentially available to pay the client’s creditors in a bankruptcy, and some assets, […]

Filed Under: Exemptions, Start Here Tagged With: assets, bankruptcy, bankruptcy practice, exemptions, property of the bankruptcy estate

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