What are my bankruptcy options if I’m self-employed? Self-employed people such as sole proprietors or independent contractors can file for bankruptcy just like everybody else through Chapter 7 or Chapter 13. They are afforded the same protections from creditors, the time to restructure, and the ability to wipe some debts clean. Unlike everybody else, the […]
What happens during probate court? Probate is the process by which a deceased person’s debts are settled, titled property is transferred, and assets are distributed to beneficiaries. In cases with wills or trusts, the probate’s court’s duty is to honor and execute an individual’s final wishes. Without a will or trust, the probate court settles […]
The process of probate is where a deceased person’s financial file is effectively closed: their remaining assets are used to settle any debts and what’s leftover is given to the beneficiaries. 99% of the time, this process follows through steps in probate court without being challenged. When probate is “contested” it means a family member […]
For an individual seeking the protections offered through bankruptcy, one of the first benefits realized is the stoppage of creditor collection efforts by any means, including mail and phone. Such calls can be annoying and stressful; sometimes even harassing. One commonality across different chapters of bankruptcy is that, except for particular circumstances of repetitive filers, […]
Yes, though the window of opportunity to overturn a will is limited. Each state has different probate laws. In California, the time limit for filing a motion to contest a will approved by probate is 120 days. The probate process takes anywhere from a few months to more than a year, and 99% of wills […]
Many federal and state tax debts cannot be discharged through bankruptcy. Even when some of these debts will not disappear, bankruptcy offers powerful tools for assisting an individual resolve these debts and protects them from the punitive consequences of owing the government money. The IRS has means of collection that other creditors do not. There […]
