By Attorney Matt Tabakman | June 14, 2011 at 09:53 PM EDT | No Comments
A California bankruptcy court has sided with a gay couple seeking to file a joint bankruptcy petition, in the process deciding that the federal Defense of Marriage Act (DOMA) is unconstitutional.
Gene Balas and Carlos Morales were wed during the brief window in 2008 when same-sex marriage was legal in California. Under the bankruptcy Code, a legally married couple has the option of filing a joint petition, which would seek to discharge their debts through one, unified bankruptcy case. Those in couples who are not legally married must file separate, individual bankruptcy petitions in order to have their debts discharged, even if those debts include joint debts. Separate bankruptcy petitions result in longer waits for discharge orders, as well as added expenses in the form of additional attorneys' fees and court costs. The ruling is the first attack on DOMA in a bankruptcy court.
Bankruptcy Judge Donovan ruled on Monday that DOMA violated the couple’s equal protection guarantees. Judge Donovan's ruling may carry more weight in light of the fact that nineteen of his 23 fellow judges in the Los Angeles bankruptcy court signed the opinion.
By Attorney Matt Tabakman | June 08, 2011 at 09:27 PM EDT | No Comments
To be effective, filing for bankruptcy protection requires an honest declaration of all of your assets. When you sign your bankruptcy petition and schedules, you swear under penalty of perjury that everything indicated is true to the best of your knowledge. If you deliberately omit the disclosure of all of your assets, it may be regarded as fraud.
Assets include everything from real estate, to personal property, to bank accounts, investments or retirement plans. If you conceal any of these assets, perhaps in an attempt to preclude the bankruptcy trustee from taking them from you, you will likely be on the losing end of the endeavor.
What might happen? Nothing good....
• You lose your discharge rights: There's not much point in filing for bankruptcy protection if your debts won't be discharged in the end. If the court finds that you've fraudulently concealed assets, it can deny your discharge and your debts will remain right there with you.
• You do not have the right to claim any exemptions: If you do not disclose all of your assets, you may lose out on your property exemptions.
• You are held under criminal prosecution: The Federal Bureau of Investigation (FBI) investigates bankruptcy crimes, including fraud. If you are caught attempting to conceal assets or important information, you may be the subject of a criminal prosecution.
Talk to your bankruptcy attorney about all of your assets. He can advise you on whether you are at any risk of losing that property to the bankruptcy estate. By talking with your bankruptcy lawyer before your case is filed, you can engage in smart and effective planning. This way, your bankruptcy case will proceed as smoothly as possible and your risk of losing assets is kept to a minimum.
By Attorney Matt Tabakman | June 02, 2011 at 11:13 AM EDT | No Comments
Avoid Common Mistakes
If you file for bankruptcy protection without a bankruptcy lawyer, even the most innocent mistakes can lead to problems. For instance, if you repay a debt within a given period prior to filing a bankruptcy, the person or company you paid can get into trouble with the bankruptcy trustee. They may even have to pay back the money they received. Working with a bankruptcy attorney can help you avoid such mistakes.
Keep Creditors At Bay
Once you've retained a bankruptcy attorney, your creditors may only reach you through your bankruptcy counsel. When your creditors call you, and they will, you can tell them to call your attorney instead!
Get Legal Advice
Only a bankruptcy attorney can properly give you legal advice regarding your financial situation. Hiring a debt consolidation company or any other third party is not the same as retaining a bankruptcy attorney. While debt consolidation companies and the like can give you a hand in filing and making calls, only bankruptcy attorneys can better explain how the laws affect you, what happens at every step, and what your options are after filing for bankruptcy protection.
Face Creditors With Confidence
Imagine facing your creditors and trustee with just your bankruptcy forms in hand, with no idea which laws can work for or against you. You don’t have to worry about that when you’ve got a good bankruptcy lawyer helping you out. With a legal team on your side, you can be sure you’re making the right decisions, and you can negotiate more efficiently with creditors for the best possible terms.
By Attorney Matt Tabakman | June 02, 2010 at 10:42 AM EDT | No Comments
One of the nice things about my law practice is the diversity of clients I'm able to help. I'm not just referring to the usual measures of diversity, such as race, ethnicity, marital status, or even sexual orientation. It's wonderful to have met a broad range of folks by those measures, don't get me wrong. But given the estate planning & bankruptcy practice areas I've developed, I also meet people in a variety of economic circumstances.
My estate planning practice is geared toward individuals and couples who are interested in making arrangements for their futures. They've decided it's better to invest some time and money in creating comprehensive estate plans that address their real estate and personal property, as well as their preferences for healthcare decision-making when/if they're unable to decide for themselves. By sitting down with my estate planning clients, I get to learn about their backgrounds, and I get to learn about their families and their relationships. Let me tell you, some of those family dramas are juicy! (Actually I can't tell you, but if I could there'd be enough material for a prime-time drama series). Once I've gotten to know my clients and their particular needs, we agree on the best type of estate plan and I get to work putting the pieces together for them. Wills and trust documents dispose of property the way my clients want it disposed, and those healthcare documents are designed to ensure that the client's wishes are carried out when the time comes. When they return to me to sign their finalized documents, the feeling of confidence and relief is often visible right there on their faces. That's why I do this work.
My bankruptcy clients are special people too. Often, though not always, they are at the opposite end of the economic spectrum and are on their last financial leg. I always give my bankruptcy clients a moment at the beginning of the first consultation to just vent and tell me how they've come to be in their difficult financial situation. Most of these folks are very good people who, through job-loss, health issue, or just bad investment choices, find themselves in a seemingly incurable financial mess. More than a few tears have been shed in these consultations by clients who are at their wits end. It's these people I strive to help through my bankruptcy practice. No matter how they got to where they are in their financial predicament, the laws provide them an avenue for relief. It's my job (and my privilege) to guide them down that avenue. When that discharge order comes through a few months later, the so-called "restart button" we see in advertisements, my clients are renewed and I'm happy I was able to help.
By Attorney Matt Tabakman | October 08, 2009 at 08:37 PM EDT | 1 comment
Come meet me and find out more about my practice at Orlando's Come Out With Pride festivities around Lake Eola! Sunday, October 11, 2009 from 12 noon - 6 p.m.
By Attorney Matt Tabakman | October 02, 2009 at 11:50 AM EDT | No Comments
See what might happen if you die without a valid will in place....
State law (not you) will determine who gets your assets
Additional expenses will be incurred and extra work will be required to qualify a personal representative
Possible additional Federal estate taxes
If you have no spouse or blood relatives, the State of Florida may take your property
Arguments and lawsuits amongst your family might result
Save your loved ones from being overwhelmed with disputes over property and money when they are grieving and dealing with death. Take the time to do some estate planning now.
By Attorney Matt Tabakman | September 15, 2009 at 12:29 AM EDT | No Comments
Background A Power of Attorney is a document which delegates authority from one person (the "Principal") to another (the "Attorney-in-Fact"). In a Power of Attorney, the Principal grants to the Attorney-in-Fact the right to act on the Principal's behalf. What authority is conveyed depends on the specific language of the document, and the authority conveyed could be quite broad or narrowly focused.
Some typical uses of a Power of Attorney A Power of Attorney may be used to give another the right to sell a car, a home, a business, or other property right. It might be used to allow another to sign a contract, make health care decisions, handle financial transactions, or even sign legal documents for the Principal.
Using an Attorney to Draft a Power of Attorney Powers of Attorney are powerful legal documents which can serve a useful purpose in the right circumstance. A lawyer can draft this important document to accomplish exactlypowe what you need - no more and no less.
“Limited" vs. "General" Powers of Attorney A limited Power of Attorney gives the Attorney-in-Fact authority to conduct a specific act (i.e. selling the Principal's home) by delegating authority to another person to handle that transaction. A Power of Attorney can thus be “limited” to only one act.
A general Power of Attorney, on the other hand, typically gives the Attorney-in-Fact broad powers to perform any legal act on behalf of the Principal. The Power of Attorney should specify he types of activities the Attorney-in-Fact is authorized to perform on behalf of the Principal.
"Durable" Powers of Attorney Powers of Attorney terminate if and when the Principal becomes incapacitated. A Durable Power of Attorney remains effective even if a person becomes incapacitated. The document must contain special wording that provides that the power survives the incapacity of the principal. Most Powers of Attorney granted today are durable in nature.
A person must be competent to execute a Power of Attorney The Principal must understand what he or she is signing at the time the document is signed. The Principal must understand the effect of a Power of Attorney, to whom he or she is giving the Power of Attorney, and what property rights might be affprincipected by the document.
POWERS AND DUTIES OF AN ATTORNEY-IN-FACT An Attorney-in-Fact may perform only those acts specified in the Power of Attorney. Any competent person 18 years of age or older can serve as an Attorney-in-Fact. Because of the powerful responsibility conveyed by a Power of Attorney, Attorneys-in-fact should be chosen for their reliability and trustworthiness.
Selling the Principal’s home The Attorney-in-Fact may sell the Principal's homestead, if such power is conveyed in the Power of Attorney document. If the Principal is married, however, the Attorney-in-Fact must first obtain the authorization of the Principal's spouse.
Powers beyond the Attorney-in-Fact Even if the Power of Attorney document tries to convey them to the Attorney-in-Fact, there are certain powers the Attorney-in-Fact simply cannot be given. An Attorney-in-Fact cannot sign an affidavit on behalf of the Principal if it purports to state what the Principal knows or has witnessed. An Attorney-in-Fact cannot vote in a public election on behalf of the Principal. An Attorney-in-Fact cannot create or revoke a Will or Codicil for the Principal.
The code of conduct for Attorneys-in-Fact An Attorney-in-Fact is a “fiduciary” under the law and is held to the same standards of conduct as a trustee. As such, Attorneys-in-Fact are expected to meet a certain minimum standard of care when performing their duties, as a fiduciary relationship is one of trust. A violation of that trust could lead to civil and/or criminal punishment.
Effectiveness of a Durable Power of Attorney When a Durable Power of Attorney is effective depends on the legal document itself. It could become effective as soon as the Principal executes it, or the document might specify that the Durable Power of Attorney is conditioned on the Principal’s lack of capacity to manage his or her own property.
Third Parties and Powers of Attorney Third parties might be concerned about the validity of the document and, as they do not want to be exposed to liability for the improper use of the document, some third parties refuse to honor Powers of Attorney. If a Power of Attorney is refused, your attorney may be able to assist in alleviating the situation.
A Power of Attorney Might Avoid the Need for a Court-Appointed Guardian If the incapacitated Principal executed a valid Durable Power of Attorney prior to his or her incapacity, it may not be necessary for the court to appoint a guardian since the Attorney-in-Fact already has the authority to act for the Principal.
Terminating the Attorney-in-Fact’s Authority Under a Durable Power of Attorney Any of three events will terminate the authority of the Attorney-in-Fact of a Durable Power of Attorney: (1) the death of the Principal; (2) the Principal revokes the Power of Attorney, or (3) a court determines that the Principal is totally or partially incapacitated and the Power of Attorney does not provide that it should remain in force in such a circumstance.
By Attorney Matt Tabakman | August 05, 2009 at 01:49 PM EDT | No Comments
I thought it might be nice to add a blog to the Firm's website. I'll use this space to post interesting news articles, web links, and just about anything else I think my clients might be interested in. This is my first attempt at a blog, so have patience. Thanks!