Claimed Lawyer ProfileQ&AResponsive Law
Jurisdictions Admitted to Practice
- Supreme Court of Illinois
- State Bar of Nevada
- The John Marshall Law School
- J.D. (1994) | Law
- University of Illinois - Urbana-Champaign
- B.A. (1990) | Economics
- Arizona State Bar
Websites & Blogs
- Bankruptcy Law Office of Nicholas Fuerst
3 Questions Answered
- Q. My dad is a senior citizen who does not have any real assets and lives on his social security.
- A: A lot of people who have no assets and receive social security are Judgment proof, there is no easy way for anyone to collect the debt from them. If social security is directly deposited into an account then two months of scoial security is protected by federal law. A lot of people who are Judgment proof do end up filing Chapter 7 bankruptcy just for the peace of mind that it brings them.
- Q. So my case was closed and now reopened I gave them 2018 tax return now its reopened will I have to give the 2019 also
- A: It depends on when you filed the case. If you filed in 2019 the bankruptcy estate would include a portion of your 2019 refund. If these refunds were listed on your schedules as assets and the Trustee abandoned them, by closing the case, there might be an argument that they do not have to be turned over at all.
- Q. No I filed in feb 2019 I gave them 2018 tax refund
- A: All of the property of your bankruptcy estate is determined as of the date of filing. In February of 2019, if you were owed a refund for any prior yaers, they would be property of your bankruptcy estate. In addition, as of the end of February 2019 you will have earned approximately 2/12 of your income for 2019 and therefore your bankruptcy estate would be entitled to 2/12 of your refund for 2019 when you file the return in 2020.
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