The American Bankruptcy Institute reported that there were 51,146 bankruptcy filings in California in 2020. Couples going through financial hardship in California have the option of filing for bankruptcy together or individually.
According to the most recent statistics, the probate process can easily cost between 3% and 7% or more of the total value of an estate. If you consider attorney fees, executor's commission, and accountant fees, the overall estate administration expenses may eventually cost more.
According to recent statistics, more than 30,000 individuals file for bankruptcy protection each year in Los Angeles County and Orange County combined. Though there has been a slight downward trend in the past few years, no one can be sure of the effect that the pandemic lockdown will have on these statistics when all is said and done.
Estate planning is one of those tasks we tend to put off. In fact, only 32% of adults have a will. At The Orantes Law Firm, we help clients in Los Angeles County and Orange County, California, determine what estate planning tools work best for them.
According to the Small Business Administration, 99.9% of all businesses in the United States are small businesses — that is, business establishments with less than 100 employees. The COVID-19 pandemic has led to widespread shutdowns, thus, affecting countless small businesses across the country.
With all the information available today regarding bankruptcy, it is no surprise that much of the information is either misleading or false. In some cases, companies may lie to you to get your business or to keep you from moving forward with filing for bankruptcy.
Life's financial curveballs can strike unexpectedly and sideline you from paying bills, debts, and meeting your day-to-day needs. When experiencing financial adversity, declaring bankruptcy can help you remedy your situation and get a fresh start.
The bill provides Key bankruptcy provisions within Sect. 1113 of the CARES Act changes eligibility threshold for businesses filing under new subchapter V of chapter 11 of the U.S. Bankruptcy Code from $2,725,625 of debt to $7,500,000; this is incredibly beneficial to aiding small businesses recover thru bankruptcy.