Bad News for the Non-Filing Spouse

Frequently it makes sense for only one spouse to file bankruptcy. Where the husband has wracked up large business debts in his name only and the wife has significant separate property or sole management property, the husband can file bankruptcy without bringing the wife's non-joint assets into the...

5 Lessons from Real Housewife NJ Teresa’s Bankruptcy Case

On October 29, 2009, Teresa Giudice and her husband, Giuseppe ("Joe"), filed a bankruptcy case under chapter 7 of the Bankruptcy Code. They claim to have nearly $11 million in debts with approximately $2.25 million in assets. Few people will have to deal with the millions in debts that Joe...

The Coming Baby Boomer Retirement Crisis? Avoid Early Withdrawal Traps

Between 1946 and 1964, more than 76 million American children were born. The first of these "Baby Boomers" begin to reach the historic retirement age of 65 in 2011. By 2030 all boomers will be over 65 and will represent an estimated 20 percent of the population. Two recent reports point...