What
Chapter 7 bankruptcy is a type of consumer bankruptcy designed to eliminate nearly all consumer debt, including credit card and medical debt. There are certain requirements that must be met prior to eligibility.

Chapter 13 bankruptcy is a form of consumer bankruptcy that allows you to reorganize your debt into an affordable repayment plan, which will last from three to five years. At the end of the repayment plan period, any debt remaining under the plan will be discharged. There are less qualifying restrictions for this form of bankruptcy, and it may be a viable option if you do not qualify for Chapter 7.

What
Consumer bankruptcy can have a positive impact, allowing you a fresh financial start so you can focus on rebuilding your credit. We recommend getting one credit card so over time, your credit score will improve as you show creditors that you can be trusted to pay down your balances.
What
If you’re interested in staying in your home, you may suggest Chapter 7 bankruptcy. Under New York state law, a person who is filing Chapter 7 bankruptcy may keep up to $50,000 equity in the home, and married people who file jointly may keep up to $100,000 equity. Equity is determined by subtracting the amount you owe on your home or car from its value.

When you file consumer bankruptcy, you can keep up to $2,400 equity in a car, and married couples may keep twice that. In the practical application of the law, there may be some flexibility with that amount.

Why
When someone passes away, all of his or her assets must be distributed to their beneficiaries or heirs. Any debts or taxes must also be settled. Without a will, assets and debts will be settled through estate administration in Surrogate’s Court.

The lack of an estate plan can cause bitter disputes as families are left to guess how their loved one would prefer his or her assets distributed. We’ll discuss guidelines and your options regarding asset distribution, money set aside to provide for a special needs family member or appointing a guardian to care for your minor children.

Why
If you’re thinking about having a will written, it’s important to work with someone who can make sure your wishes are clearly explained.

We help clients protect their assets and identify their wishes in well-defined estate plans. With significant experience in writing wills, we know how to tailor a will to your situation.

What
When a person dies, everything that person owns must be transferred to heirs or beneficiaries. Probate is the process used to handle a person’s estate when he or she dies with a will. Probate is handled in Surrogate’s Court.
Why
Enlisting an experienced adviser who takes the time to understand your needs is a critical step toward ensuring a smooth real estate transaction. These transactions can be complicated and full of potential pitfalls even for the most experienced property owner. An experienced Real Estate Lawyer knows how to identify and protect your interests before, during and after the transaction.