What is a Homestead under Massachusetts Law? If you’re a Massachusetts homeowner, the Massachusetts Homestead Act protects equity up to certain amounts in your home from being liquidated to pay off liens. You must live in your home as a principal residence to qualify...
Once you have accumulated any type of significant assets, it is a good time to start estate planning. Most people think about this when they are going through a significant life changes such as purchasing real estate, marriage, birth of children, death and divorce....
Most people have heard the terms “Chapter 7” and “Chapter 13” thrown about but are not sure of the difference. Don’t worry – here is what you need to know. Chapter 7 This is what is referred to as liquidation bankruptcy. It is designed to wipe out your general...
Qualifying for Chapter 7 Bankruptcy — Net Monthly Income in the Red (or close to it) If you are filing a chapter 7 then your net monthly income cannot exceed (by much) your regular monthly expenses. Most people who file chapter 7 are either breaking even (without...