Bankruptcy and Preservation

Bankruptcy and Preservation

 

Bankruptcy laws have traditionally been utilized by people struggling financially to remedy their financial difficulties. There are several forms of bankruptcy: Chapter 7, Chapter 11, Chapter 12 and Chapter 13. The type of bankruptcy you need to file depends on your personal circumstances.

There used to be a stigma associated with bankruptcy, but it has become more widely accepted because financial problems can arise through no fault of the person, such as loss of employment or a business due to a medical crisis (e.g. COVID19) or other unavoidable circumstances. In fact, in recent years, bankruptcy has been utilized as a financial tool for both business and personal estate and preservation planning. While most people would not view bankruptcy as an estate-planning tool; however, there are situations when bankruptcy law can be helpful in preserving a portion of your estate assets (e.g. home and retirement accounts) and can also help you regain financial security. In some cases, individuals can also keep their interest in a company.

 

Filing for bankruptcy is recommended if your financial circumstances truly warrant seeking protection in this way. When facing unavoidable circumstances, the most crucial step is to take action before you are faced with judgments and garnishments. If you are in such a predicament, you should not avoid the process due to feelings of embarrassment or shame. Bankruptcy law is available under certain circumstances to offer you some protection. We have partnered with exceptional Bankruptcy attorneys, including Sam Tzoberi (Tzoberi Law, LLC), in metro Atlanta to help us guide our clients with their legacy and preservation planning needs. Please contact us for a consult!

1820 The Exchange, Suite 150

Atlanta, GA 30339

404-410-3075

104 W. 40th Street, Suite 200

New York, NY, 10018

Office/Fax: 646-205-3242

 

Mailing Address:

2451 Cumberland Parkway

Suite 3724

Atlanta, GA 30339

          

 

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Individuals visiting and/or contacting this site should not assume that they have retained Castor Sprattlin Law Group, LLC to represent them or render services until such time, if ever, as the Firm and the individual in question execute a written retainer agreement. All information provided on this website is for informational purposes only and does not constitute legal advice. Individuals obtaining information from this website should not act on it without first obtaining advice from legal or other professional counsel regarding the law applicable to a particular set of facts. In no event will Castor Sprattlin Law Group, LLC be liable for any direct or indirect damages resulting from an individual(s) or entity(s) use of information from this website.