A judgment lien is one of the most powerful tools in the creditor’s arsenal, but its effect can be severely curtailed by a bankruptcy filing. This article explores the impact of bankruptcy on judgment liens and the limited state court remedies which may remain after a bankruptcy discharge. CREDITOR’S JUDGMENT LIEN ON THE DEBTOR’S REAL …
Law Articles
Recording and Renewing Judgments: Traps for the Unwary
Winning at trial and obtaining a jury verdict or court judgment is only a part of the battle. You must also preserve and protect your judgment in order to enforce it. This article describes some pitfalls which may confront counsel when a judgment lien is initially recorded or later renewed. RECORDING THE JUDGMENT Include the …
Creditor vs. Family Limited Partnership
Attacking Assets in a Family Limited Partnership The Family Limited Partnership (FLP) is a common estate planning device. A recent Wall Street Journal article described the technique as follows: “Family limited partnerships are designed to curb estate and gift taxes by moving assets out of someone’s estate and into a partnership. A parent transfers business …