As some may know, in 2005 the bankruptcy code was rewritten by banking industry lobbyists without the advice of any bankruptcy lawyers from either the creditor or debtor side of the aisle. Consequently, some of the results of the new law that congress adopted are irrational and not conducive to the underlying policy of bankruptcy,.
In San Marcos California we tend to run into bankruptcy cases, especially Chapter 7 and Chapter 13 cases, involving issues of inheritance on the part of debtors. Our community and the communities surrounding us such as Vista, Escondido, Oceanside, Rancho Bernardo, Carlsbad and others have large populations of seniors who often leave legacies to children.
Practicing as a probate lawyer in San Marcos, Vista, Escondido and Oceanside I find that many people do not understand the very basics of the probate process and it sometimes leads to trouble. When someone dies, if they do not have a trust, and often, even when they do, probate is needed. Probate is simply.
In 2005 when the bankruptcy code was rewritten the legislature imposed many new requirements on debtors to making them prove entitlement to bankruptcy relief. One new requirement was a means test arguably designed to help show whether a person was abusing the right to file chapter 7. Bankruptcy is one of the few areas of.