Many of us hope to leave our family homestead and heirlooms to our children. The problem these days is that there may be so much debt that creditors would take it all! Bankruptcy can prevent liens and judgments against the title to the home and preserve equity that can be passed on to our loved ones.
When considering an estate plan or a last will and testament, it is wise to consult a Wills and Estates lawyer AND an experienced Bankruptcy lawyer, if the estate would be overburdened with debt. Planning now can preserve your gifts to your family later.