Bankruptcy is amazing. It can eliminate most debts, improve your credit score in the long run, and allow you to rebuild your financial future. Unfortunately, its power is not all-encompassing. Some debts you just can’t rid of. If you owe child support or spousal maintenance (what used to be called alimony), certain taxes, student loans,…Read more
Colorado Homestead Exemption May Apply to Property Held in Grantor Trust
From time to time, we report on bankruptcy court decisions that may be of interest to our clients and friends Revocable grantor or “living” trusts are a popular alternative or adjunct to a traditional will as a means of passing property to one’s heirs. The grantor legally transfers property into the trust, and is…Read more
10th Circuit Bankruptcy Appellate Panel Rules That Colorado’s Tools Of The Trade Exemption Does Not Apply To Real Estate
One of your primary concerns when considering bankruptcy should be how filing will affect any personal property and real estate that you own. The bankruptcy code allows each state to decide just how much property is protected. Colorado’s protections (what we lawyers call “exemptions”) cover your primary residence, household goods, clothing, jewelry, vehicles, and other…Read more