Articles from Shenwick & Associates

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Spendthrift Trusts

Submitted by Anonymous (not verified) on Tue, 02/24/2015 - 22:56

Here at Shenwick & Associates, as part of our bankruptcy, creditors' rights and asset protection planning practice, we get many questions about spendthrift trusts.

For Whom the Tax Debt Tolls

Submitted by Anonymous (not verified) on Wed, 01/28/2015 - 19:54

Here at Shenwick & Associates, many of our more challenging personal bankruptcy cases involves past due tax debts. We've previously written about the complex rules involving the dischargeability of taxes hereand here.

Happy holidays from Shenwick & Associates!

Submitted by Anonymous (not verified) on Wed, 12/24/2014 - 19:09

As the holiday season gets fully into swing here in midtown Manhattan, we at Shenwick & Associates wanted to take this time to wish you a happy, safe and warm holiday season and a very happy and healthy 2015. We also wanted to thank you for your friendship, your business, your referrals and your trust in us. Personal and business bankruptcies and workouts are keeping us busy as 2014 draws to a close. We're here for you now and in the upcoming year, and we look forward to working with you.

Offers in compromise

Submitted by Anonymous (not verified) on Tue, 11/25/2014 - 19:02

Here at Shenwick & Associates, many of our personal bankruptcy clients have issues with tax debts that they're looking for our guidance on. The issue of taxes in bankruptcy is a complex one that we've covered in a prior post.

Daily News: State court sides with tenants, says rent stabilized leases can’t be seized in bankruptcy

Submitted by Anonymous (not verified) on Mon, 11/24/2014 - 22:57

By Glenn Blain

ALBANY - New York's highest court handed a victory to tenants in rent stabilized apartments Thursday when it ruled their leases could not be seized as assets in bankruptcy proceedings.

The Court of Appeals, in a 5-2, decision sided with a 79-year-old Manhattan widow's argument that her rent-stabilized lease was a public assistance benefit and not an asset that could be liquidated as part of her bankruptcy case.

NY Times: Debts Canceled by Bankruptcy Still Mar Consumer Credit Scores

Submitted by Anonymous (not verified) on Thu, 11/13/2014 - 19:46

By Jessica Silver-Greenberg

In the netherworld of consumer debt, there are zombies: bills that cannot be
killed even by declaring personal bankruptcy.

Tens of thousands of Americans who went through bankruptcy are still
haunted by debts long after — sometimes as long as a decade after — federal
judges have extinguished the bills in court.

Full stop at the intersection of marijuana and bankruptcy law

Submitted by Anonymous (not verified) on Tue, 10/28/2014 - 17:56

Here at Shenwick & Associates, we counsel our clients to avoid violating any laws and regulations. While our colleagues of the criminal defense bar may lose work from such advice, it keeps our disciplinary record clean, our malpractice insurance premiums low and our clients out of trouble.

NY Times: Years After the Market Collapse, Sidelined Borrowers Return

Submitted by Anonymous (not verified) on Mon, 10/27/2014 - 20:04

By Tara Siegel Bernard

Tracy S., 59, a technical writer for a large bank, divorced her husband just as the
housing market spiraled downward. They were forced to sell their home, just
outside Phoenix, for less than they owed, and the bank agreed to absorb the
difference, about $25,000.

“Our ability to pay and our credit was perfectly fine, but neither of us could
keep the house individually,” she said. Ultimately the house sold for about
$175,000, or 21 percent less than they originally paid.

Asset Protection strategies

Submitted by Anonymous (not verified) on Wed, 10/01/2014 - 18:21

Here at Shenwick & Associates, many of our clients are understandably concerned about how to protect their assets from creditors––especially their home. While there are limits on how much asset protection we can provide clients when presented with an immediate crisis (i.e. a foreclosure sale), with advance planning, there are several strategies debtors can use to protect their most valuable asset. Let's look at a few of these asset protection techniques and devices:

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