Legal Question in Bankruptcy in New York

Re: Bankruptcy Question

You state in your posting: "I have read some of the 'new' rules on line and everywhere I read it says that inheritance is untouchable." This just shows how totally unreliable and WRONG much, if not most, of the information on the internet really is.

One of the schedules filed with a bankruptcy petition is a schedule of exemptions. This details what you get to keep based on applicable exemption laws. Exemption planning in connection with bankruptcy is a complex subject and requires a review of all of your assets by an attorney with experience in this area. Since you have some assets you can afford to hire a lawyer. Exemption planning is really not a suitable subject for a "do it yourself" project. You need to consult with a lawyer.

This is a subject I know very well. I have published articles on the topic for lawyers in lawyer magazines and have helped debtors with complex exemption planning issues to try to maximize their exemptions through legitimate exemption planning (fully disclosed in their bankruptcy papers and to the chapter 7 trustee).

For general information about personal bankruptcy and exemption issues you can visit the Frequently Asked Questions (FAQs) on our website at www.starrandstarr.com/faqs.htm and downloadable articles in pdf format on our website at www.starrandstarr.com/faqs.htm.

Please feel free to contact me to schedule a consultation at 8888678165.

The foregoing is not intended as legal advice for your specific situation and is intended as general information of interest to readers of these boards. YOU SHOULD CONSULT WITH AN ATTORNEY REGARDING YOUR SPECIFIC SITUATION.

Re: Bankruptcy Question

Mr. Starr is experienced in the field. As such, he should recognize that you need to hire someone LOCAL to you, whose office you can actually visit without spending the rest of your assets on the transportation to get to the lawyer's office. Check with the NYS Bar Association (www.nysba.org) if you need a referral.

The rest of what he says is quite true; this is not an area for do-it-yourself or paid bankruptcy petition preparers; you need a LAWYER.

I'd love to help you out, but I also am not local to you.

You've had quite a year; I hope 2008 is better for you.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.