What can my client do with non exempt cash or readily saleable items not protected by an exemption, the newbie asked. As I looked down my list of things to do with excess cash, I saw an issue I hadn’t explored before: some of best ways to use up non exempt cash may result in […]
Bankruptcy Exemption Mistakes Feed Trustee Coffers
Bankruptcy lawyers who mess up claims of exemptions were the other target of the trustee’s attorney I spoke with earlier this week. He rubbed his hands over attorneys who hadn’t collected enough information to understand the asset or who simply didn’t know that the homestead exemption didn’t apply to property other than the debtor’s residence. […]
Bankruptcy Exemptions: 10 Ways to Deal with Excess Cash
Bankruptcy lawyers occasionally are confronted with the client with more cash, or other marketable assets, worth more than the available exemptions to protect them. And state exemption systems often protect the darndest things, like a mule and a plow. A milk cow. The family bible. Those aren’t the things most of us are striving to […]
