Entries by leslie.admin

Are cognitive biases the reason for your bankruptcy?

Going with your gut or trusting your instincts is not always the best way to make a decision. Especially decisions that affect your livelihood. Cognitive biases are a real (and sometimes extreme) factor that can play a huge role into why someone has to file for bankruptcy. Here are some examples of how cognitive biases […]

Can You File Chapter 13 If You Are Self Employed?

Filing for bankruptcy can be difficult enough, but if you are self-employed and filing for Chapter 13 you might have an even harder time. In Chapter 13 bankruptcy cases, it is better when your income and expenses are steadily consistent. When you are self employed, you might have varying income and expenses month-to-month. There are […]

Unsecured Deficiency Claims in Bankruptcy

There are different issues that can potentially arise while filing for Chapter 13 or Chapter 7 bankruptcy. You might have too much disposable income to qualify for a Chapter 7 which would leave you in the Chapter 13 plan. Once you are in a plan, the surrendering of different belongings can become an issue. For […]

Bankruptcy Information | When Consumers Get Notices About A Business’s Bankruptcy — When You Are Suddenly A Creditor.

Chapter 7 bankruptcy for people is very different than Chapter 7 bankruptcy for businesses, and you should certainly know the differences between the two, and how they can affect consumers as a possible creditor. We are here to tell you what you should do if you receive a notice about a business’s bankruptcy. My community […]

Bankruptcy 101: What is an “Automatic Stay”?

An automatic stay kicks in once you file for bankruptcy and ultimately protects you from your bill collectors and/or creditors. It halts any lawsuit filed against you that is seeking money. Automatic stay can be a lifesaver for individuals who are behind on child support, utility bills, evictions, foreclosures etc. There are a few areas […]

What You Should Know About Bankruptcy

If you have been struggling financially, the idea of filing for bankruptcy may have crossed your mind.  However, a lot of components go into filing for bankruptcy.  You can’t simply sign a few documents, get your debt relieved, and have a clean slate.  This is why it is very helpful to consult a professional like […]

Mental Capacity to Make Wills and Trusts

  For someone to create a valid will or trust, the individual must be of “sound mind”, which is a term for determining mental capacity. If an individual is determined to lack sufficient mental capacity, then any document that individual signs is invalid under California law. Under California law, there are different laws for determining […]

The Purpose of No Contest Clauses

One of the primary goals of estate planning is to reduce the disputes that occur among a deceased individual’s loved ones. While there are many ways to achieve that goal, these methods often include ensuring that all proper requirements are followed when executing documents, including carefully drafting trust terms and keeping estate planning documents unambiguous. […]

Methods of Irrevocable Trust Modification

An irrevocable trust refers to a trust that cannot be modified or terminated without the permission of the beneficiaries. Irrevocable trusts offer the benefit of reducing the grantor’s estate tax liability while simultaneously transferring wealth to a deceased individual’s loved ones. Irrevocable trusts, however, can be modified in several ways, many of which do not […]