For many people, a retirement account is their largest asset. Fortunately, most retirement assets are protected when filing a Chapter 7 or Chapter 13 bankruptcy. Pensions, 401(k) or 403(b) plans, and IRAs are the most common retirement assets, and the "fresh start" afforded by filing for bankruptcy includes the ability to keep these benefits. Potential … Continue reading Retirement Accounts in Bankruptcy
In general, if you are even remotely considering bankruptcy as a solution, you should consult with an attorney before making any financial decisions because the law can affect you and those you care about in surprising ways. If you owe money to family and/or friends, it is natural to want to take care of them … Continue reading Insider Creditors – Don’t Repay Money Owed To Mom and Dad (yet)
As I write this in August 2020, tax refunds may not be at the forefront of your mind. Most people have filed and received their refunds (if any) by now, even with the extension to file. However, this is the time of year when future tax refunds begin to play a larger role when planning … Continue reading Will the Trustee Take My Tax Refunds?