Chapter 11 bankruptcy may help if your small New York business has mounting debt, dwindling finances and harassing calls creditors. Partnerships, limited liability companies and sole proprietorships alike may be able to keep their doors open and stay afloat with help...
Business owners can use Subchapter V to protect their homes
Many business owners borrow against their home and use personal credit cards to build and prop up their businesses. New Bankruptcy Chapter helps protect personal assets while business gets time to stabilize
Can I qualify for personal bankruptcy?
Hidden issues dealing with Eligibility, obtaining a Discharge, protecting your House, and protecting your family and friends from suit by a bankruptcy trustee, must be identified before you file for bankruptcy.
What should you know about the Chapter 13 repayment plan?
Even if you work and have a regular income, you may find yourself struggling with debt and considering filing for bankruptcy. Often referred to as the wage earner’s plan, you may decide that seeking Chapter 13 bankruptcy relief best suits your needs and circumstances....
Discharge of back income taxes gives stockbroker back his life
Stockbroker could never escape past mistakes of failing to pay taxes from years ago. Each year the debt increased and he felt helpless to solve the problem. A properly timed bankruptcy filing discharged the oldest taxes and gave him new life.
Strategies to rebuild a business after bankruptcy
Many business owners know that filing for Chapter 11 does not spell the end of their company. However, they may wonder what steps they should take to rebuild their business. There are several actions that can help business owners recover from bankruptcy. Performing...
Meet your trustee along with creditors at the 341 meeting
The 341 meeting, or meeting of creditors, is an important stop on your road to a debt-free financial future. If you file for Chapter 7 or 13 bankruptcy protection, you must attend this short but informative meeting and provide answers to some essential questions. ...
Estate planning needs to be active and early
Many people fail to realize the importance of early and active estate planning. Some put it off thinking they are too young to need it. Others have estate plans that only include a basic will, with no thought toward what could happen between now and the time they die...
Choosing between an irrevocable trust and a living trust
Estate planning typically includes executing a trust, which serves as a separate legal entity to hold properties and assets for its beneficiaries. As reported by Kiplinger's Personal Finance, in addition to real estate, trusts may include financial accounts, cars and...
How does arbitration and mediation differ from litigation?
Litigation is a great way to get things done in a legal sense. It is one of the most traditional methods of handling disputes, especially those that are beyond your ability to resolve without outside interference. But what about alternative dispute resolution...
What is surrogate’s court and what do you do there?
When a loved one dies, not only do you have to process the grief, you need to process through their estate. This is often an emotional episode in your life and the lives of the loved one's other decedents. Whether you have a will or not in the aftermath of all that,...
Reducing inheritance conflict among siblings
Your children may need to lean on one another more than ever once you are gone, but if you are not careful, you run the risk of your New York estate plan – or lack thereof – creating conflicts among your kids. Inheritance battles are often expensive and...
How to avoid inheritance disputes
Estate planning helps you to ensure your loved ones have everything they need after your death, but inheritance disputes can tie up assets for years and break families apart. To reduce the likelihood of such disputes, consider these tips while making end-of-life...
Can you protect your elderly loved ones from financial abuse
As your loved ones age, they may become more vulnerable to abuse from people they trust. Financial abuse is one form of mistreatment that can violate privacy, damage reputations and threaten financial security. Protecting your loved one's against this type of abuse...
How does probate work in New York?
When someone dies in New York, his or her executor presents the will to the Surrogate's Court in the county where the person lived. In a process called probate, the court determines the validity of the will and supervises the administration of the deceased person's...
A look at small estates in New York
If you have a relatively modest estate, it is still important to set up an effective estate plan. Unfortunately, many people with modest estates fail to create estate plans, which often causes their loved ones to experience anxiety and uncertainty after their death....
How do you structure an estate plan review?
Estate plan reviews are a crucial part of your end of life plans. After all, you cannot simply create an estate plan and leave it as-is indefinitely. It needs to reflect your life in the current moment, which means it must change as your life changes. But how do you...
