[rt_reading_time label="Reading Time:" postfix="minutes" postfix_singular="minute"] There is an old bankruptcy expression called “keeping house” – an act of bankruptcy in fact before a person is made bankrupt. Picture the blinds that are drawn all day, the doorbell and knocks that go unanswered even though the lights are on and the debtor is at home, but unwilling to discuss his/her circumstances or accept service of legal documents. On a small number of...

For the seasoned adviser who diligently keeps up with developments in the client risk space, there may not be too much new here, but this article provides a snapshot of some of the traditional warning signs and areas of concern together with a reminder about how more recent legislative changes are now impacting your/our clients....

Bankruptcy, of course, entails the statutory “shakedown” of the bankrupt for their divisible assets. For high-income earners, there is also an obligation to pay contributions to the bankrupt estate from their income. This article explores a recent Federal court case and touches on some less frequently seen examples of income. ...