Aug 14
One question many people ask is, “can I continue to contribute to a 401(k) plan in Chapter 13.” The answer depends on where you live. Depending on which federal judicial circuit you live in, contributions to a 401(k) might be allowed or they might not. Utah is in the Tenth Judicial Circuit. In the Tenth […]
Aug 10
Occasionally it happens that a parent wishes to cut off a child from any inheritance. Rarely one spouse wants to exclude the other. The question arises, can that be done? The answer is “yes” if the heir is a child or anyone besides a spouse. In Utah a spouse is entitled to what he or […]
Aug 6
One of the hardest things for many bankruptcy clients to do is just walk away from their house or car. People form emotional attachments to both houses and cars, especially the former. It’s the place where the kids grew up, where there were good times and bad, the place that was always refuge from the […]
Jul 26
It should seem obvious that if two people can’t get along as husband and wife they can’t get along as business partners. Yet a recent case from New Jersey addressed the situation of former spouses who tried (and failed) to maintain their business relationship post-divorce. In Mariello v. Mariello (http://www.judiciary.state.nj.us/opinions/a4044-10.pdf) the New Jersey Appellate Court […]
Jul 16
When it comes to estate planning, how something is owned, i.e. how the title reads, is almost as important as what is owned. Many people own property as joint tenants so that either of them can deal with the property. This makes good sense from an administrative standpoint, but not necessarily from an estate planning […]
May 23
The Supreme Court of the United States has just announced a fascinating decision. In a unanimous opinion the Court sided with the Social Security Administration in holding that a child conceived posthumously (after the father’s death), such as by way of preserved sperm, is not automatically entitled to Social Security benefits as a surviving heir […]
Apr 24
A Florida man, John Goodman, recently made news when it was announced that he intends to adopt his girlfriend, Heather Hutchins. This prompted speculation that the move was designed to protect some of Goodman’s fortune (he’s a wealthy socialite in Florida) because in March he was found guilty of DUI manslaughter in the death of […]
Feb 7
There are a lot of myths surrounding bankruptcy, about what it can or can’t do, who can file, who can’t, that you can except certain debts, etc. Two of the more pervasive myths are (1) that you need a minimum amount of debt in order to file and (2) that you have to repay all […]
Jan 27
An interesting article in American Banker just caught my eye. JP Morgan Chase, one of the bigggest of the big guys, has quietly shut down most of its consumer collection activities. As recently as mid-2011 this division was bringing in hundreds of millions of dollars a month in revenue for JPMC. Chase is mum about why […]
Jan 12
Most people think of Chapter 11 when they think of reorganizing a business. While it’s true that you have to file Chapter 11 if you have a corporation or a limited liability company (LLC), if you’re a sole proprietor you can reorganize through Chapter 13. A sole proprietor simply means a person running a business […]
