• Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.

Coming Into Money And Bankruptcy

It can be pretty nice to suddenly come into some money through something like an inheritance or settlement. Though if your looking into bankruptcy, there are some things you should take into consideration before spending, saving, or investing this money.

During a bankruptcy, your assets become part of the bankruptcy estate. The bankruptcy court will then distribute all your non-exempt assets to your debtors. So, it is important to navigate the law in order to protect as much of your assets as possible in order to keep them from being distributed to creditors.

The law allows you to exempt several categories of assets, including up to $28,000 using a wildcard exemption. Though you might not be eligible for the wildcard exemption if you have a lot of equity in your home. Depending on your other assets, you could protect a modest inheritance or a decent sized settlement using a wildcard exemption. It’s important not to carelessly spend money you come into, as the court might require you to pay the money you spent to your creditors depending on how you spent it.

Depending of the kind of exemptions you use, you are also able to exempt a portion of some kinds of lawsuit settlement. Though this is starting to “get into the weeds” of the law and is beyond a scope of a blog post.

It’s vitally important that you have a sound strategy for protecting your assets when you are filing for bankruptcy. This is especially important if you have recently come into money or are expecting to come into money before your bankruptcy is discharged. I would recommend consulting an experienced bankruptcy attorney when creating this strategy. You’re more than welcome to give our office a call if you’re looking for a Modesto Bankruptcy attorney.

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