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What Assets Bypass Probate in California? In California, certain assets bypass the probate process. These include joint tenancy properties, retirement accounts, life insurance policies, and assets held in a living trust. Joint tenancy properties are those owned by two or more people. When one of the owners dies, the property automatically passes to the surviving […]

What is the Difference Between Chapter 7 and Chapter 13 Bankruptcy? Before delving into the impact of income levels on bankruptcy eligibility, it’s important to understand the different requirements for Chapter 7 and Chapter 13 bankruptcy. Chapter 7 bankruptcy, also known as liquidation bankruptcy, involves selling off your non-exempt assets to pay off as much

What Are My Rights as a Tenant Facing an Unwarranted Eviction? As a tenant in Downey, California, you have several rights under the state’s landlord-tenant laws. One of the most important is the right to not be evicted without just cause. This means that your landlord cannot simply decide to evict you without a valid

What Should I Consider First in Protecting My Real Estate Investments? As a real estate investor in California, the first step in asset protection is understanding the risks associated with property investment. These can include lawsuits from tenants, contractual disputes, or financial losses from property damage. Recognizing these risks will guide you in implementing the

Can Chapter 13 Bankruptcy Help Me Manage My Student Loan Debt? If you’re burdened with student loan debt, you might be exploring various options for relief. One such option could be filing for Chapter 13 bankruptcy. While traditionally, student loans have been difficult to discharge in bankruptcy, Chapter 13 can provide a way to manage

What Are the Repossession Laws in California? The law in California allows lenders to repossess your property if you default on the loan, even if you’re only one day late in making payments. The specific terms of the loan dictate when the lender can come after you and how much grace period they can accord

What is Wage Garnishment? If you owe a creditor, they can contact your employer under a court order to skim your wages before the payment reaches you. Once wage garnishment starts, it’s difficult to stop it unless you file for bankruptcy. However, it’s crucial to understand how bankruptcy will affect the garnished debt. Experienced bankruptcy

When Can a Small Business File Chapter 11 Bankruptcy? Chapter 11 bankruptcy is a resource tool for businesses, allowing them to restructure their finances by shedding their liabilities. By filing for bankruptcy, small business owners get room to reorganize themselves financially. Companies can also quickly sell all or part of their assets without the liability

What is California’s Homestead Exemption? The homestead exemption in California is a legal provision that protects a part of a debtor’s equity of their primary residence from being seized or sold to pay debts in a bankruptcy case. It allows debtors to retain a portion of the value of their home. The exemption also protects