When a bankruptcy attorney submits a petition to the court, the judge will almost automatically grant a stay. This is a legally binding order, and it goes to the creditors named in the bankruptcy petition. The stay will order them to cease all collection action until the court has heard the case.
A bankruptcy lawyer typically sees the stay as a powerful tool. You might wonder why it's such a big deal, so take a look at what a stay can accomplish.
When people sit down with attorneys to do estate planning, the overriding concern is that their plans will be solid. However, what are the elements of a solid plan? Let's look at three signs a set of documents will likely hold up well under estate planning law.
A good plan should have some room for the estate to change. It should provide an executor with sufficient power to adjust to whatever circumstances might emerge after the grantor passes.