We truly appreciate the immense pressure and anxiety that financial difficulties can impose on individuals and families, and we want you to know that you’re not alone in this struggle. Our hearts go out to those facing such challenges, and we’re deeply committed to offering our support and expertise to help alleviate your burden. The…
The Estate Tax Husband and Wife Marital Deduction Husband and Wife: For a husband and wife, there is an unlimited marital deduction available which will allow property of the first spouse to die to pass to the surviving spouse without the payment of estate tax, thus preserving the property to support the survivor. To the…
Means Testing is a mathematical formula established by congress, creating standards to qualify a person to obtain relief under the bankruptcy code and to determine whether they will be required to repay some of their debts or merely discharge them. In order to put all persons on the same playing field, congress established both a…
The Section 341 Meeting – The debtor must appear and submit to oral examination, under oath, at a meeting of creditors convened (called, brought together and conducted) under section 341 of the Bankruptcy Code. The meeting is convened (called and brought together and conducted) by a trustee appointed by the Office of the United States…
THE EFFECT OF DISCHARGE-WAIVER-DEBTS NOT DISCHARGED The Bankruptcy Code prohibits collection against a debtor once a debt has been discharged in a bankruptcy. This applies to debts that arose prior to the date the bankruptcy was filed. If the creditor has a lien against an asset of the debtor and the lien attached prior to…
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