Elderly Bankruptcy
The 60-Minute Lawyer
- Product Number: 2190216P01
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CLE Credits, earn up to:
1 substantive credits, 0 ethics credits CLE Credit Note -
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Product Description
Product Description
Recent news cites the alarming increase in elder bankruptcy filings; they are filing three times more frequently now than in 1991. Many seniors are struggling with large credit card bills and monthly debt service exceeding their income. Rather than drawing down retirement assets, bankruptcy may make sense for these individuals—and can also eliminate a senior’s existing medical bills. Moreover, many elderly people who rely on social security as their sole income source, and have few assets, may be judgment-proof and need not file bankruptcy at all. But even in those cases, relief from creditor phone calls can warrant seeking reprieve. Specific concerns, issues, and challenges can arise when representing elders facing bankruptcy that must be addressed with the client in detail. Attend this power-packed hour to better anticipate your elder clients’ needs and learn how to handle the unique considerations at MCLE—not on your next case!
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Agenda
Agenda & Materials
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12:00 - 12:07 pm
To File or Not
on demand video Add to CartPros and Cons of elder bankruptcy; Who are “household members?”; Effect of family assistance; What factors make a difficult decision more acceptable?; M.G.L. c. 224, §16—Dismissal of proceedings (judgment proof)Richard A. Mestone, Esq., Mestone & Associates LLC , Danvers
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12:07 - 12:14 pm
Exemptions and Doubling Some Under Massachusetts Law
on demand video Add to CartDetailed explanation of exemptions; Reassurances about social security retention; Keeping retirement accountsRichard A. Mestone, Esq., Mestone & Associates LLC , Danvers
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12:14 - 12:21 pm
Elder Emotions—Special Concerns Because They Don’t Have Decades to Recover Financially
on demand video Add to CartAvailability, or not, of credit going forwardRichard A. Mestone, Esq., Mestone & Associates LLC , Danvers
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12:21 - 12:28 pm
Protecting Legacies—To “Trust” or Not
on demand video Add to CartConcerns about leaving a legacy; Adding the kids to the title to the house—and making sure they are not in financial troubleRichard A. Mestone, Esq., Mestone & Associates LLC , Danvers
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12:28 - 12:35 pm
Well Intended Transfers Are Still Transfers—Sometimes Fraudulent
on demand video Add to CartConcerns regarding gifts made to friends and family in anticipation of filing; Helping adult children just prior to a filing—not a good ideaRichard A. Mestone, Esq., Mestone & Associates LLC , Danvers
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12:56 - 1:00 pm
"Ask the Experts" Q&A Session
on demand video Add to CartRichard A. Mestone, Esq., Mestone & Associates LLC , Danvers
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- Faculty