“Thought for the Day” #790 – by Stephen R. Elville, J.D., LL.M.

August 25, 2016

Could bankruptcy law and estate planning (the law of estates and trusts) have a relationship?  Take 30 seconds to consider before answering.  There’s no trick question here – yes, there absolutely is a relationship!  Not exactly a marriage, but more along the lines of a “we’ll date other people but still see each other” noncommital type relationship.  There’s a connection, albeit with certain things we don’t or would rather not know about.  A basic knowledge of the bankruptcy laws is an essential part of the asset protection aspect of estate planning.  Unlike some relationships, the more commitment you make to this one the less expensive it will be in the long run.