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ESTATE PLANNING
Have you executed a durable power of attorney or a health care directive? Have you considered the cost and hastle of probate? Who will be the guardian(s) of your children? Having a plan for how your affairs will be handled in the event of incapacity or death is critically important. We can help you prepare and prevent loved ones from having to absorb unnecessary costs, untimely delays or worse complications that come when a plan is not in place.
BANKRUPTCY
RELIEF
Bankruptcy is a federal court process designed to provide relief to honest and unfortunate individuals who are in debt. There is much to consider when filing bankruptcy, and each case is different. We have substantial experience having represented hundreds of bankruptcy clients. We offer thoughtful, personal, and professional analysis.
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Last Will & Testament
A will allows you to decide how your assets will be distributed after your death, including gifts to family members, friends, and charities.​
If a person dies without a will, state law determines how the estate is distributed.​
Wills are often used together with trusts as part of a comprehensive estate plan designed to protect assets and minimize the need for probate.
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Trusts
​Trusts are commonly used to avoid the costs, delays, and public nature of probate.
The person who creates a trust is the trustor, the person who manages it is the trustee, and the person who receives its benefits is the beneficiary.​
Trusts can also protect a minor's inheritance until an appropriate age and provide greater privacy in the transfer of assets.
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Power of Attorney
A Durable Power of Attorney allows you to appoint a trusted person to manage your financial and legal affairs if you become unable to do so yourself. It can help avoid the time, expense, and court involvement associated with a conservatorship.​
Because a Durable Power of Attorney grants significant authority, it should only be given to someone you trust completely. An improperly drafted document or an untrustworthy agent can lead to financial mismanagement or abuse.​
A properly prepared Durable Power of Attorney is an important part of a comprehensive estate plan and can provide peace of mind for you and your family.
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Advance Health Care Directive
Also known as a Living Will, this document allows you to appoint a trusted person to make medical decisions on your behalf if you become unable to communicate your wishes. It also enables you to provide instructions regarding medical treatment, end-of-life care, and other health care preferences.​
By clearly documenting your wishes, an Advance Health Care Directive can help reduce uncertainty for your loved ones and ensure that your health care decisions are respected.
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Probate​
Probate is the court-supervised process of administering a deceased person's estate. California's intestate succession laws determine who inherits the estate, generally beginning with a spouse and children, followed by other relatives, If a person dies without a will or trust,​
Proper estate planning can help avoid probate. While trusts typically cost more to create than wills, they often save significant time and expense after death, provide greater privacy, and offer more flexibility in distributing assets.​
In California, probate may be required when assets held outside a trust exceed certain statutory thresholds. However, exceptions may apply for jointly owned property, community property, and other assets that pass outside of probate.​​​​
Chapter 7
Chapter 7, often called "liquidation bankruptcy," can eliminate many types of debt, including credit card balances, medical bills, auto loan deficiencies, and certain tax obligations.​
When a Chapter 7 case is filed, a bankruptcy estate is created. However, debtors may claim exemptions that protect many assets, and in most cases no assets are liquidated by the trustee.​
Filing also triggers an automatic stay, which immediately stops most collection activities, including wage garnishments, foreclosure sales, and collection calls.​
Approximately 20 to 50 days after filing, the debtor must attend a Meeting of Creditors (341 Meeting), conducted by the bankruptcy trustee. While creditors may attend and ask questions, they rarely do.​
In the Southern District of California, a Chapter 7 discharge is typically granted within 90 to 120 days after filing
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Chapter 13​
Chapter 13 bankruptcy, often called a "wage-earner's plan," allows individuals with regular income to reorganize their debts and repay creditors through a court-approved repayment plan. To qualify, a debtor must have a source of income and debts that fall within the applicable eligibility limits.​
Under a Chapter 13 plan, the debtor makes payments over time based on income, assets, and other factors. The plan must provide creditors at least as much as they would receive in a Chapter 7 bankruptcy and satisfy other requirements of the Bankruptcy Code.​
A major advantage of Chapter 13 is that it allows debtors to keep assets that might otherwise be liquidated in Chapter 7. It can also help homeowners stop foreclosure and catch up on past-due mortgage or vehicle payments.
Chapter 13 plans last three to five years, depending on the debtor's income and circumstances.
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Chapter 11
Chapter 11 bankruptcy, often called "reorganization" bankruptcy, allows businesses and individuals to restructure their debts while continuing operations and protecting assets.​
Although recent changes have simplified the Chapter 11 process for many individuals, it remains more complex and costly than Chapter 7 or Chapter 13 bankruptcy.​
For individuals who exceed Chapter 13 debt limits or have substantial assets, Chapter 11 may be the most effective bankruptcy option.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The services or benefits which we offer our clients are with respect to bankruptcy relief under Title 11 of the United States Code and the assistance which we provide may involve bankruptcy relief under that Title.