Dallas Bankruptcy: THINGS NOT TO DO IF YOU THINK YOU MIGHT FILE BANKRUPTCY
Posted on | September 21, 2011 | No Comments
Dallas Bankruptcy Attorney: I am a bankruptcy attorney. I represent debtors in chapter 7 and chapter 13 bankruptcy cases. I write this blog to inform my clients and prospective clients about the bankruptcy process. Most of the information in this article can be found in other articles that I have written, but I thought it might be helpful if I put it all in one place. The following list consists of what not to do if you intend to file bankruptcy.
1. Do not take money out of your retirement accounts to pay your credit cards, medical bills, and other unsecured debts. Retirement accounts are usually exempt property in bankruptcy. This means that when you file bankruptcy, your creditors and the trustee cannot take the money in your retirement accounts. Unsecured creditors like credit card lenders are discharged in bankruptcy, meaning you don’t have to pay them back. If you use your retirement accounts to pay off credit cards, you are throwing your money away.
2. Don’t repay debts owed to relatives. Most people will repay relatives they owe money to so this is more about timing than whether or not to repay a debt to a relative. Don’t repay your relatives before you file bankruptcy. The trustee may require your family member to turn the funds paid to them over to the trustee so that they can be paid to all of your unsecured creditors equally. If you are going to repay a debt to a family member, wait until after you file your case.
3. Do not have a balance over $500 in your bank accounts on the date your case is filed. This is good advice for several reasons. The primary reason is that if you are using Texas exemptions in your bankruptcy case, money in your bank accounts is nonexempt, which means that the trustee can require that you hand it over to pay to your creditors. However, in most cases they will not require that the funds be turned over if you have a low balance in your accounts.
4. If you are going to receive a tax refund, do not file bankruptcy until you receive the refund. Obviously, this isn’t always possible because people file bankruptcy for a lot of different reasons. For example, you may not be able to wait to file bankruptcy until after you receive a tax refund if your home is being foreclosed. The reason that you should wait to file bankruptcy until after you receive a tax refund is because that money becomes part of the bankruptcy estate, and the trustee will seize the funds so that they can be paid to your creditors.
5. Do not transfer assets outside of your name before filing bankruptcy. This is especially important for property that is exempt. Don’t give away your house to a family member. Don’t transfer assets in an annuity to someone else. Don’t give away a car. These transfers have to be disclosed in the bankruptcy documents and each of these transfers can be set aside by the trustee. Homes, cars, and retirement accounts are all exempt property, meaning that the assets cannot be seized by the trustee. However, if you transfer these assets to a third party, the transfer can be set aside and the property seized. The trustee will then liquidate the asset and pay it to your creditors.
This is not an exhaustive list of things not to do prior to filing bankruptcy. As a general rule, if you intend to file bankruptcy, don’t transfer property or repay debts before you talk to an attorney.
-Nathan Graham
If you have questions regarding bankruptcy, contact The Wright Firm, L.L.P. at 972-353-4600 or visit our website at www.thewrightlawyers.com.
Tags: Bankruptcy > chapter 13 > chapter 13 bankruptcy > chapter 7 > chapter 7 bankruptcy > Dallas Bankruptcy > dallas bankruptcy attorney > Dallas Bankruptcy Lawyer > Lewisville Divorce Attorney > Nathan Graham > Texas Bankruptcy > The Wright Firm > The Wright Lawyers
Texas Attorney: For the Record!
Posted on | September 9, 2011 | No Comments
It’s a legal cliché: “Let the record reflect” or “For the record”. It implies that these records will be permanent somehow. However, after two years of field work, a Task Force appointed by the Texas Supreme Court has discovered just how quickly our legal records and part of the very history of Texas is fading and crumbling to dust.
The Task Force, led by Baker Botts partner Bill Kroger, found historical court records going back to the earliest days of Texas independence being stored haphazardly in an abandoned jail, a sea crate, and a railroad box car among other unlikely places. Mold, bugs, vermin and thieves are chipping away at our legal heritage. One historical treasure, a Minute Book of a circuit court dating back to 1850 (when the courthouse was a log cabin) was found just lying on the floor. Other historical records were found for sale on eBay.
Why should we care about these records? These early court documents contain historical facts of famous outlaws and ranchers, trace family histories, show the development of cities, and even provide accounts of slavery in antebellum Texas.
For more on this story click here: http://www.prnewswire.com/news-releases/key-texas-historical-records-face-uncertain-future-task-force-report-128791603.html
For the task force’s official report click here: http://www.supreme.courts.state.tx.us/crptf/about.asp
For information regarding Texas law, contact The Wright Firm, L.L.P. at 972-353-4600 or visit our website at www.thewrightlawyers.com.
Tags: court house documents > court records > Dallas Attorney > Dallas Divorce Attorney > Denton divorce attorney > L.L.P. > Lewisville Divorce Lawyer > Texas Attorney > The Wright Firm > The Wright Lawyers
Denton County Divorce Law Attorney: Don’t Hide Community Assets!
Posted on | September 3, 2011 | No Comments
Denton County Divorce Law Attorney: A new change in Texas law as of September 1, 2011 will give judges more power to deal with spouses in a divorce case who hide or lie about community assets. With the passage of this section, the Texas legislature codified and clarified the Texas Supreme Court decision of Schlueter v. Schlueter defining remedies for actual or constructive fraud on the community estate. This statute will require the court to reconstitute the community estate by valuing the depletion of the community estate and adding back the actual, existing value of the estate. Once the court has reconstituted the community estate, the court is given discretion in rendering a just and right division of the estate. This may include a higher reward of the remaining property or a money judgment or both. An example of where this might come into play is where one spouse is hiding or undervaluing assets during a divorce case. The short comment is-Don’t lie or hide community assets!
If you have questions regarding Texas Family Law contact The Wright Firm, L.L.P. at 972-353-4600 or visit our website at www.thewrightlawyers.com. We have offices in Dallas, Denton, Lewisville, and in Frisco, Plano, and Ft. Worth by appointment.
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Bench-Slapped!
Posted on | August 31, 2011 | No Comments
The Honorable Judge Sam Sparks of the Western District of Texas has issued a unique “invitation” to local attorneys whom the Judge says are “unable to practice law at the level of a first-year law student.” Judge Sparks ordered the attorneys to attend what he refers to as a Kindergarten party where there will be many “exciting” lessons on basic discovery and how to play nice with other attorneys.
This is probably a very good reminder to those of us in the legal profession, as well as to clients: it may seem like fun and games to get tacky with your opposing counsel (or opposing party) by throwing a bunch of technicalities out there or refusing to give up documents. But Judges don’t find these games all that funny, and you could end up getting “bench-slapped.”
Original ABA article here: http://www.abajournal.com/news/article/federal_judge_invites_lawyers_to_court_kindergarten_party_focusing_on_remed
Above the Law * blogger commentary here: http://abovethelaw.com/2011/08/benchslap-of-the-day-judge-sparks-burns-more-attorneys/
*includes the full text of the Judge’s Order
For information on Texas law contact The Wright Firm, L.L.P. at 972-353-4600 or visit our website at www.thewrightlawyers.com.
Lewisville Divorce Attorney:Divorce in the Bible Belt!
Posted on | August 26, 2011 | No Comments
Lewisville Divorce Attorney:Divorce in the Bible Belt!
The U.S. Census Bureau recently released a report which shows that nine of the U.S. States with the highest divorce rates are in the stereotypically Bible-thumping South. Our great State of Texas is among the nine. This is all particularly surprising in light of the same study finding that 4 of the states with below-national-average divorce rates are in the (again, stereotypically) more secularized Northeast.
Many different theories are being put forth to explain the high number of Southern divorces. Numerically speaking, Southern states have a higher number of marriages, so it stands to reason that more marriages could mean more divorces. Culturally, the Bible belt preaches against pre-marital sex and/or cohabitation, which in turn encourages people to marry at a younger age rather than “live in sin”. Marriage at an early age, as well as marriage at a lower educational level have both been shown to be indicators of likelihood of divorce.
Interested in how Texas measures up against other states in marriage and divorce statistics? Check out this interactive map from the Pew Research Center: http://pewsocialtrends.org/2009/10/15/marriages-and-divorce-a-50-state-tour/
Original article can be found here: http://www.cnn.com/2011/LIVING/08/25/divorce.bible.belt/index.html?hpt=hp_t2
Need help with your Texas divorce or family law case? The Wright Firm is
here to help! Call us at (972) 353-4600 or check us out on the web at www.thewrightlawyers.com.
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Denton Divorce Lawyer: Cheaper to Keep Her…
Posted on | August 23, 2011 | No Comments
Denton Divorce Lawyer: Despite some recent back-to-school discounts and tax incentives, the price of everything just keeps going up! Now in Denton County, even filing your divorce will cost more than it has in the past. Denton County just released its latest list of filing fees and the fee for all new cases is going up by $10.00, effective on October 1, 2011.
Curious about the filing fees in your county?
Denton County fees can be found here (this list is valid through the end of September): http://dentoncounty.com/dept/District_Clerk/Acrobat/Filing_Fees.pdf
Collin County fees can be found here: http://www.co.collin.tx.us/district_clerk/fee_schedule.pdf
Tarrant County fees are here: http://www.tarrantcounty.com/edistrictclerk/cwp/view.asp?A=752&Q=462661
Dallas County fees are here: http://www.dallascounty.org/department/districtclerk/fees-family.html
Let The Wright Firm help you file your family law case! Give us a call at (972) 353-4600 or check us out on the web at www.thewrightlawyers.com.
Tags: Denton divorce attorney > Denton Divorce Lawyer > Divorce Filing fees > Filing fees in Denton County > Lewisville Divorce Attorney > Lewisville Divorce Lawyer > Lewisville Family Law Attorney > Texas Divorce > Texas Family Law > The Wright Firm > The Wright Lawyers
DENTON COUNTY DIVORCE ATTORNEY -STANDING ORDER RULES!
Posted on | August 20, 2011 | No Comments
THREE DENTON COUNTY STANDING ORDER RULES YOU DO NOT WANT TO VIOLATE!
Denton County Divorce Attorney: Denton Countyhas standing orders that will be implemented when a divorce or family law case is filed. No party to the lawsuit requests the order; it is adopted by the court to protect the parties, their children and property while the case is pending. While a judge will most certainly reprimand a party that violates any of the rules in the standing orders there are three rules that apply to children that you want to make sure you do not violate. Rule 1.3 states that neither party is allowed to hide the children from the other party. Because initially there are no orders regarding which parent the children will live with both parents have equal possession rights to the children. Often times this will lead to one parent not allowing the other parent access to the children. Parents cannot hide the children from the other parent and doing so will likely have negative consequences to the parent violating this rule. Rule 1.6 states that neither party is allowed to discuss the litigation with the children. Many times parents will purposely or inadvertently discuss the divorce with the children. This is a huge mistake. Judges do not look kindly on this type of behavior, so you should avoid doing this. Rule 1.7 states that in an original divorce action neither party is allowed to have a person who they are romantically involved with stay overnight (10:00 p.m. to 7:00 a.m.) while they are in possession of their children. Violating these rules could have serious implications for you if you are in a custody battle.
For more information contact The Wright Firm, L.L.P. at 972-353-4600 and speak with one of our Denton County Family Law Lawyers (phones answered 24 hours a day) or visit our website at www.thewrightlawyers.com.
Tags: Arlington Criminal Attorney > Denton County Divorce Attorney > Denton County Family Law Lawyers > Denton County Standing Order > Lewisville Divorce Attorney > Lewisville Divorce Lawyer > Lewisville Family Law Attorney > Lewisville Texas Divorce Lawyer > The Wright Firm > The Wright Lawyers
Texas Tax Free Weekend!
Posted on | August 19, 2011 | No Comments
Texas Tax Free Weekend: While most other states have to wait until Black Friday for hard-core shopping madness, we here in Texas have a little advantage. Today is the start of Texas’s Tax-Free Weekend, and the frenzy has already begun.
Parents of school-age kiddos (and any shoppers, for that matter) will be able to purchase certain items under $100 without having to pay the sales tax. In addition to saving the tax, stores across the state are offering additional sales and incentives to draw in the crowds. Some stores are even offering extended hours to accommodate the influx of shoppers.
A complete list of what is and is not tax-exempt can be found on the Texas Comptroller’s website here: http://www.window.state.tx.us/taxinfo/taxpubs/tx98_490/tx98_490.html
Dallas area businesses are receiving an added bonus from the tax holiday. Shoppers from smaller towns across the state and even from other states are flooding into town to take advantage of Dallas’s choice shopping centers. The Westin Hotel, attached to the Dallas Galleria, is purportedly completely booked up for the weekend.
Whether you are a DFW native or a shopping-tourist, be careful out there! Don’t throw too many elbows at fellow shoppers, and enjoy your tax holiday!
Full article here: http://www.the33tv.com/news/kdaf-kathleen-tax-free-story,0,4323245.story
For information on Texas law contact The Wright Firm, L.L.P. at 972-353-4600 or visit us on the web at www.thewrightlawyers.com.
Tags: tax free weekend > tax holiday > Texas Comptroller > Texas tax free weekend > The Wright Firm > www.thewrightlawyers.com
Denton Divorce Lawyer: What is Voir Dire?
Posted on | August 18, 2011 | No Comments
Voir dire is the process where prospective jurors are questioned about their backgrounds and potential biases or prejudices before being chosen to sit on a jury. The way the process works is that the attorneys for each side will get an equal amount of time to talk to the jurors about the relevant law and issues that are in controversy to determine how each potential juror perceives their case.
In theory, the goal of voir dire is to end up with a jury that can be fair and impartial. However, the litigants will try to use their preemptory and “for cause” challenges to arrive at a jury that will be favorable to their case. Depending on the type of case, each side will get a certain number of preemptory challenges. These challenges can be used to challenge any prospective juror for any reason, except jurors cannot be challenged on the basis of race, gender, or any other constitutionally protected class. By contrast, litigants have an unlimited number of challenges for cause. Generally, a potential juror can be challenged for cause only if the juror is unable to fair and impartial.
For more information contact the Wright Firm, L.L.P. at 972-353-4600 to speak to a Denton Divorce Lawyer (phones answered 24 hours a day) or visit our website at www.thewrightlawyers.com. We have offices in Dallas, Denton, and Lewisville. We also have offices by appointment only in Frisco, Plano, and Ft. Worth.
Tags: Denton divorce attorney > Denton Divorce Lawyer > jury > jury selection > jury trial > Texas Divorce > Texas Divorce Attorney > The Wright Firm > The Wright Lawyers > voir dire
Lewisville Divorce Lawyer: What is a Pre-Mediation Meeting?
Posted on | August 16, 2011 | No Comments
Lewisville Divorce Lawyer: I find it hard to believe how many attorneys fail to plan for mediation and discuss mediation for the first time while in mediation. However, I have found that there are five main reasons why you should schedule a pre-mediation meeting with your Lewisville Texas Divorce Attorney prior to attending mediation. They are as follows:
- What is the process? You would not play a game unless you knew the rules and you should not attend mediation unless you know the rules as well. I like to advise my clients that mediation is a confidential process. It is like there is a giant cake dish over the entire mediation and a smaller cake dish over your room in mediation. There may be some facts that you do not want the other side to know. The items that are discussed in your room may or may not be confidential and the items that are discussed in mediation are confidential.
- What is the role of the mediator? The mediator is not your lawyer. The mediator is not the judge. The mediator is a neutral third party who will help you hopefully reach an agreement in the court. Most mediators practice some form of risk analysis. They will point out the strengths and the weaknesses in your case. This is not a bad thing if you have a divorce case in Denton County.
- The Mediators binder. We will prepare a summary statement or position paper and provide this to the mediator before the mediation. We will also provide the mediator with a copy of the pleadings, inventory of property, summary of the relief requested, and supporting documents before we even arrive in mediation.
- What do you want? It is a good idea to have a game plan for mediation. Ask your Lewisville Divorce Lawyer what should seek in terms of a settlement? Typically, trying to figure out what you want in mediation is a bad thing to do while you are in mediation. I also suggest that clients also bring certain documents with them to mediation. Be sure to ask your lawyer what documents you should bring to mediation.
- Mediated Settlement Agreement. Should an agreement be reached in mediation, the document that will include the agreed upon terms is the mediation settlement agreement. It is helpful to advise clients that if you sign this agreement that many times you are locked into this agreement. If clients know this in advance, they will read the agreement more carefully. Do not rely on your lawyer to read the agreement for you. Also, the mediated agreement is not the final document. Your agreement will still need to be turned into an order of the court.
These are just a few of the reasons why you should schedule a pre-mediation meeting in your Denton County, Texas family law or divorce case. With the proper preparation, you will resolve your differences and save yourself some money in legal fees in the process.
For more information on Texas divorce and family law, contact The Wright Firm at 972-353-4600 or visit our website at www.thewrightlawyers.com
Tags: Lewisville Divorce > Lewisville Divorce Attorney > Lewisville Divorce Lawyer > Lewisville Family Law Attorney > Lewisville Texas Divorce Attorney > Lewisville Texas Divorce Lawyer > mediation > pre-mediation meeting > Texas Divorce > The Wright Firm > The Wright Lawyers


