A Chapter 7 bankruptcy is the most commonly filed bankruptcy in the United States. A Chapter 7 bankruptcy allows the debtor the opportunity stop a home foreclosure, stop collection actions against them and obtain a fresh start. The Means Test The means test is a test under the Bankruptcy Code which determines who qualifies to file a Chapter 7 … [Read more...]
The Chapter 7 Bankruptcy
How It Works The first step in a Chapter 7 bankruptcy is the debtor files a bankruptcy petition. In addition the debtor must file schedules of assets and liabilities; schedules involving monthly income and expenditures made by the debtor; a statement of financial affairs pursuant to the bankruptcy code and a schedule of unexpired contracts and … [Read more...]
The Chapter 7 Bankruptcy Process
Once a Chapter 7 bankruptcy is filed on the debtors behalf the United States Bankruptcy Court appoints a trustee. The court, upon filing of the bankruptcy, gives the debtor an automatic stay. This is a federal court order which cause all collection efforts against you to be stopped until the bankruptcy process is complete or a creditor obtains a … [Read more...]
The Chapter 13 Bankruptcy
A Chapter 13 bankruptcy is a reorganization of an individual’s or of a husband and wife’s debts. Many Chapter 13 bankruptcies are filed by individuals who are behind on the their mortgage payments or car loans. This can help them modify their financial arrangements with their creditors regarding their mortgage and car loan payments. The … [Read more...]
How a Chapter 13 Bankruptcy Actually Works
A Chapter 13 bankruptcy actually starts to work when the debtor files a petition. The petition includes schedules, a statement of financial affairs and a counseling certificate by an accredited bankruptcy counseling organization. The debtor must file a statement of current monthly income and a projected calculation during the 3 to 5 year period … [Read more...]
Bankruptcy and Individuals Credit
I have often heard from individual’s considering filing bankruptcy they do want to do this because they will never get credit again. That is not true. Most individuals who file bankruptcy can be educated how to reobtain their credit within 18 months of filing bankruptcy. Most bankruptcy attorneys will educate their clients after the filing of the … [Read more...]
Photocopy of Will Admitted to Probate: Original Will Lost in Storm, Not Destroyed or Revoked by Testate
In a case before Surrogate's Court Judge Peter Kelly in Queens County, the children of decedent sought to probate a photocopy of a will. A hearing was held before Surrogate Peter Kelly as to whether a photocopy of a lost will could be submitted to probate. The general rule with regard to lost wills is there is a presumption the person who made out … [Read more...]
Probating a Will in New York
Protecting Beneficiary Rights
A family member of yours has died. You are now wondering whether you are going to inherit from this individual. What do you do to protect your rights? The laws in the State of New York protect the rights of beneficiaries. If the beneficiary's rights are violated he or she can take the appropriate legal action to see to it they receive the … [Read more...]
Estate Litigation – Part I
There are a variety of situations which result in litigation of estate related matters. The first, and most common, case which is litigated in the Surrogate’s Courts in New York State is a will contest or the challenging of a trust. The most common reason for challenging a will or a trust is lack of testamentary capacity or undue … [Read more...]
