Domestic support obligations like alimony or child support are considered priority debt and are not eligible for discharge or write-off in any bankruptcy chapter. In short, filing for bankruptcy will not relieve an individual of their domestic support duties, nor will it wipe the slate clean for the delinquent amount. Although they cannot be discharged, […]
In 1969, an effort was made to standardize and simplify the probate process among the 50 states through a set of model probate laws called the Uniform Probate Code (UPC). However, since its first draft, only a handful of states have adopted the UPC in its entirety. While probate laws don’t vary wildly among states […]
In recent years, there’s been a trend to use trusts rather than wills to transfer assets to family members. A revocable trust does offer some advantages over a will. For instance, trusts allow for more privacy than wills, and they make it possible to avoid probate in most cases. However, it is a misconception to […]
According to the Judiciary Data and Analysis Office (JDAO) of the Administrative Office of the U.S. Courts, about 12.8 million consumer bankruptcy petitions were filed in the federal courts between 2005 and 2017. While few people want to file bankruptcy, for millions of Americans this last resort action provides an opportunity to clear their financial […]
Coping with the loss of a loved one is difficult in the best of circumstances. However, the grieving process becomes more distressing when disputes arise among family members during the probate process. A number of factors could lead to a family member to raise concerns during probate. In some cases, the deceased has left no […]
Is it expensive to file for bankruptcy? If you’re considering filing bankruptcy, it’s likely that you’re also concerned about your finances. That can make the prospect of filing feel counterintuitive. After all, isn’t a bankruptcy claim expensive? What are the costs associated with bankruptcy? Filing Fees There are two main expenses associated with filing bankruptcy. […]
