Law Office of Robert C. Nisenson, L.L.C.Law Office of Robert C. Nisenson, L.L.C.2026-07-18T10:25:32Zhttps://www.nisensonlaw.com/feed/atom/WordPress/wp-content/uploads/sites/1600680/2020/06/cropped-fab-32x32.jpgOn Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[What happens to your co-signer when you file for bankruptcy?]]>https://www.nisensonlaw.com/?p=475302026-07-15T10:52:22Z2026-07-18T10:25:32Zbankruptcy discharge may eliminate your personal responsibility for a qualifying debt, but it generally does not remove your co-signer's obligation.
How does Chapter 7 affect your co-signer?
The automatic stay stops creditors from collecting debts from you while your Chapter 7 case is active. However, this protection does not cover the person who signed with you. If payments stop, the creditor may try to collect from that person. Missed payments may also appear on their credit reports.
In some cases, you may sign a reaffirmation agreement, which means you agree to remain responsible for an obligation after bankruptcy. If you keep making the required payments, the lender may have no reason to pursue the other signer. However, reaffirmation keeps you legally responsible for the debt if you fall behind later.
Can Chapter 13 temporarily protect a co-signer?
Chapter 13 includes a separate protection called the co-debtor stay. It may temporarily stop a creditor from collecting a consumer debt from an individual who signed with you. This protection generally applies only to debts incurred for personal, family or household needs. It generally does not cover obligations taken on for business purposes.
If your repayment plan pays the creditor in full and you complete the payments, the other signer may have no remaining balance to pay. If your plan pays only part of the amount owed, the creditor may ask the court for permission to collect the unpaid amount from your co-signer. The protection ends when your case is closed or dismissed, or if it is converted to a Chapter 7 or Chapter 11 bankruptcy.
Preparing for possible collection risks
Reviewing the loan balance, payment history and proposed repayment terms can help you understand what your co-signer may still owe. You can also discuss possible collection notices and credit effects before they create unnecessary friction.
Because the loan terms, type of bankruptcy and repayment plan can affect what each person owes, reviewing the documents with a bankruptcy attorney can help you understand whether the co-debtor stay or a reaffirmation agreement may apply.]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[Will vs. revocable living trust: Which one is right for you?]]>https://www.nisensonlaw.com/?p=475262026-07-02T13:31:23Z2026-07-14T13:30:20ZThe traditional and straightforward solution
A will dictates asset distribution after your death and is used in New Jersey probate through the county Surrogate’s office. It is also the tool for naming guardians for your minor children.
While wills are generally simple and less expensive to create, probate makes your assets and heirs public. They also only work after you pass away. You will need other documents for incapacity planning.
When your priority is privacy and control
A revocable living trust holds your assets during your lifetime and transfers them after you die without needing a probate. Trusts also keep your affairs private since it is not filed with the court.
Aside from giving beneficiaries faster access, a trust lets you name someone to manage your affairs if you become incapacitated. However, trusts can take more time and money to set up because you need to retitle your assets into the trust's name.
Key comparison points
If you have a simple estate and young children, a will may be better as it costs less to set up and allows you to establish guardianship. Revocable living trusts are ideal for more complex asset management and incapacity planning.
You may also want to consider having both a living trust with a pour-over will. The trust can hold your bank accounts and property while the will can act as a safety net for your remaining assets. When you pass away, the will can move any missed assets into the living trust.
Helping you secure your legacy
Deciding between a will and a revocable living trust is a small but significant step toward building a comprehensive plan for your estate. A lawyer can help you select the right strategy that ensures your beneficiaries are cared for and honors your wishes.]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[A new child, a new “what if”: Protect them with an estate plan]]>https://www.nisensonlaw.com/?p=475282026-07-13T14:25:59Z2026-07-13T14:25:59Z a new child into your family changes everything, including how you think about the future. That first time you hold your child in your arms can bring new perspective and a need to offer protection. One key tool that can protect your child well into the future: an estate plan.
How can an estate plan secure your child’s future?
One of the most important goals of an estate plan for a young family is to name guardianship. If both parents pass away or become unable to care for a child, a court will appoint a guardian. Without clear guidance from you, that decision may not reflect your values, your family dynamics or your child’s needs.An estate plan also creates financial stability. It can direct how money is managed for your child, who manages it and when your child receives it. Instead of leaving a lump sum to a minor, you can structure support for education, health care and everyday living expenses. Just as importantly, you can reduce delays, legal costs and confusion during an already painful time.
What should I include in an estate plan at this stage in life?
Most new parents need a straightforward plan that covers guardianship, money and decision-making authority. The core pieces typically include the following.
A will naming a guardian for your child and outlining how to distribute assets
A trust to manage funds for your child with clear instructions and a chosen trustee
Beneficiary designations for life insurance and retirement accounts that align with your plan
Powers of attorney for financial matters and healthcare directives for medical decisions
These and supporting documents work together. A will can name a guardian, but a trust can control how to use funds. Beneficiary forms can override a will, so coordination matters.
When should I update the plan?
An estate plan is not a one-time task. Needs can shift so it is important to review it every three to five years, and sooner after major life events. Common triggers include a new child, a move to a different state, a change in marital status, a significant increase in assets or a change in who you trust to serve as guardian, trustee or agent. Also revisit the plan as your child grows, since what makes sense for an infant may not fit a teenager preparing for adulthood.Estate planning is an act of care. It turns love into clear instructions, protects your child from uncertainty and gives your family a plan they can follow when they need it most.]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[Can an employer use your bankruptcy against you? Know your rights]]>https://www.nisensonlaw.com/?p=475242026-06-30T13:26:19Z2026-06-30T13:26:18ZThere are many reasons why people see bankruptcy as a last resort if they’re facing overwhelming debt. While it’s a big step that requires careful consideration, it’s crucial to separate fact from fiction so you can make a decision that is based on what’s in your long-term best interests.
One fear that many people have is that if they have a bankruptcy on their credit report, they will have difficulty getting a job or even a promotion from an employer in the future.
Protections under state and federal law
Some states have laws that consider using a person’s credit history against them in hiring and other employment decisions a type of illegal discrimination and prohibit it in most professions. Common exceptions are in financial and security or law enforcement-related jobs.New Jersey does not prohibit employers from checking a person’s credit history. However, the New Jersey Fair Credit Reporting Act (NJFCRA) does give applicants and employees certain rights. For example, an employer must obtain written authorization to get a background report on them. Further, employers must provide people with a copy of any report they receive if they request it. Employers must also notify current employees before taking any adverse action based on a credit report.The Fair Credit Reporting Act (FCRA) provides many of these protections as well – for example, the requirement of written authorization to obtain a “background screening report.” This federal law applies in all states.
Be prepared to discuss your bankruptcy journey
Of course, it’s important to weigh how it will look to decline to give an employer permission to do any kind of background check because you don’t want them to find out about your bankruptcy. Instead, being prepared to discuss the reasons for your bankruptcy (for example, an unexpected and costly injury or illness, a job layoff, student loan debt that impacted your overall finances or even credit card use that got out of control). Then you can address how you took the step of filing for bankruptcy to get back – and remain -- on track, and note what you’ve learned from the experience. Remember, too, that a credit report filled with massive unpaid debts may look even worse to many employers than a past bankruptcy. Bankruptcy doesn’t carry the stigma it once did. To determine what your best solution is for dealing with your debt, it’s smart to get experienced legal guidance to review your options.
]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[Is estate planning just for the wealthy?]]>https://www.nisensonlaw.com/?p=475222026-06-18T15:43:12Z2026-06-18T15:43:12ZNo, estate planning is not just for the wealthy. There is no asset limit that dictates whether or not you need an estate plan.
This is a common misconception, however. It is easy to imagine that someone with assets in the millions needs to make a plan to pass those on to their children and other beneficiaries. But many people make the mistake of thinking they do not need an estate plan if they are not in a high-income bracket.
Addressing family heirlooms
For one thing, many estate disputes start over family heirlooms or items with sentimental value. An asset does not have to be expensive to trigger a dispute between beneficiaries. Failing to make an estate plan just increases the odds of such a dispute. But carefully planning in advance and spelling out your wishes can give family members guidance at this critical time, keeping them from fighting over these sentimental items.
Making medical decisions
Additionally, dividing a person's estate is just one part of estate planning. It can also address medical decisions.For instance, if someone is worried about becoming incapacitated near the end of their life, they may use an advance directive to spell out their wishes or a medical power of attorney to choose an agent who can act on their behalf. These are important estate planning documents, regardless of the value of that individual's estate.
Drafting your plan
The ideal estate plan for you and your family will depend on the unique details of your situation. It can help to work with an experienced attorney as you look into your legal options and begin drafting the paperwork.
]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[Does filing for bankruptcy mean financial failure?]]>https://www.nisensonlaw.com/?p=475212026-06-07T22:29:09Z2026-06-07T22:29:09ZPeople often put off filing for bankruptcy because they view it as a sign of financial failure. Unfortunately, this misconception keeps them from seeking relief when they need it the most.
The reality is that bankruptcy is a legal tool that allows individuals and families to recover from overwhelming debt and regain their financial footing. Understanding the real purpose of bankruptcy lets you make informed decisions about your future.
Why do people associate bankruptcy with failure?
For many Americans, financial success means they’ve “made it.” So, when debts become unmanageable, it is common to feel embarrassed or ashamed. But what most people fail to realize is that financial hardship often results from circumstances beyond their control.Life is full of surprises; some are good, but some are bad. Unexpected events such as illness, divorce, job loss or economic downturns can quickly create financial hardships. Even people who have carefully budgeted and managed their finances for years can find themselves overwhelmed by circumstances they never expected.Lawmakers understand this. They created theU.S. Bankruptcy Code to provide honest individuals with relief when faced with debt they can’t reasonably repay. It provides a legal process for eliminating certain debts or creating a manageable repayment plan.Bankruptcy can help stop collection efforts, prevent wage garnishments, halt foreclosure and repossession efforts and eliminate unsecured debts such as credit card and medical bills.Financial hardship affects people from every walk of life. Entrepreneurs, business owners, professionals and everyday working families have all used bankruptcy’s protections at some point. Filing for bankruptcy doesn’t define a person’s character, intelligence or work ethic. Instead, bankruptcy provides a path to financial recovery. Rather than continuing to struggle under overwhelming debt, they can recover from their setbacks and move forward.While bankruptcy may not be the right choice for everyone, it shouldn’t be dismissed because of misconceptions and outdated stereotypes. A legal professional can evaluate your situation and explain your options so you can determine whether bankruptcy can provide the relief you need.
]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[3 details that don’t belong in a will]]>https://www.nisensonlaw.com/?p=475202026-05-22T11:27:27Z2026-05-22T11:27:27ZFuneral plans
Families grieving someone's death often wait until after the funeral to read the will. As such, including instructions for a funeral or memorial service in a will might result in family members learning too late about an individual's preference.
Insurance beneficiary designations
Life insurance policies can protect those who outlive the policyholder. Typically, those who carry life insurance file paperwork directly with their insurance providers that names the beneficiaries who receive payouts in the event of their passing. People who include life insurance in their wills might contradict their beneficiary designations, leading to confusion and conflict.
Pets
While pets technically are property, simply bequeathing them to a beneficiary in a will could lead to the new owner surrendering the pet to a shelter or even having the animal euthanized. Additionally, pets cannot inherit directly from an estate. Those concerned about their pets may need to make alternate arrangements, such as funding pet trusts, to ensure their companion animals receive appropriate care after their passing.
Ensuring that a will addresses all necessary concerns without including inappropriate details typically requires the insight of an estate planning attorney. Those who work with lawyers while estate planning are less likely to make mistakes that might otherwise complicate estate administration.]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[3 indirect benefits bankruptcy can bring]]>https://www.nisensonlaw.com/?p=475182026-05-15T20:56:08Z2026-05-15T20:56:08ZRidding yourself of your debts or being permitted to restructure them in a way you can handle is the prime aim most people have when they file for bankruptcy. That financial boost alone makes it a valid choice for many.Yet, other benefits often come when a court accepts your bankruptcy petition - ones that might help persuade someone worried about filing to go for it.
1. Better health
Debt is a massive stressor for many people, especially when they are struggling to make their payments. Removing the debt, or getting it back in check, can remove the source of stress that may have permeated through their life in ways they did not realize.Sleepless nights are a common experience for those over their heads in debt. The body needs a certain amount of sleep to repair itself and function optimally, so lying awake every night worrying about upcoming payments can wreak havoc on your mind and body.
2. Better relationships
Many couples struggle to maintain their relationship when money worries intrude. They might blame each other for the debt, or feel guilty about causing it. They might criticize each other over spending, or spend in secret to avoid criticism. All this can take the fun out of a relationship and destroy the trust.
3. Better career prospects
There is no guarantee your career will improve after a bankruptcy filing, but many people find that it is true for them. With their debt sorted, they are better able to spend their time and energy driving themselves forward.If you feel you could benefit from filing for bankruptcy, consider learning more about how the process works.]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[When to update your estate plan in New Jersey]]>https://www.nisensonlaw.com/?p=475162026-05-11T07:03:01Z2026-05-11T07:03:01ZEstate plans go stale quickly. A document you signed years ago may no longer reflect your family, your assets or New Jersey law.
Life events that require an immediate update
Certain changes can't wait for a routine review. Act as soon as possible after any of these:
Marriage or remarriage: Your new spouse gains legal rights to your estate. Your documents must reflect that.
Divorce or separation: New Jersey's Divorce Statute,N.J.S.A. 3B:3-14, automatically revokes will provisions favoring a former spouse. It does not update life insurance or retirement account beneficiary designations. You must change those manually.
Birth or adoption: You need to name a guardian for any minor child. You may also want to set up a trust to control when and how they receive assets.
Death or incapacity of a named fiduciary: If your executor, trustee or agent under a power of attorney can no longer serve, you need a replacement.
Major financial change: Buying property, selling a business or receiving an inheritance should all prompt a review.
Each of these situations can affect who receives your assets and who makes decisions on your behalf.
Why you should review your plan every three to five years
Even without a major life event, your plan can drift out of alignment. Tax laws change. Your priorities shift. People named in your documents may move, age or become unavailable. During a routine review, check the following:
Do your beneficiary designations on retirement accounts and life insurance still match your wishes?
Are all named executors, trustees and agents still willing and able to serve?
Does your plan account for all current assets and liabilities?
A beneficiary designation on a financial account overrides your will. Keeping those designations current may matter as much as the will itself.
Speak with an estate planning attorney before making changes
New Jersey requires specific formalities for valid estate planning documents. An attorney can help you understand your options and ensure any updates meet those requirements. ]]>On Behalf of Law Office of Robert C. Nisenson, L.L.C.<![CDATA[Options after job loss during a Chapter 13 bankruptcy]]>https://www.nisensonlaw.com/?p=475142026-04-25T21:11:19Z2026-04-25T21:11:19ZFilers have two main options
People who have lost their jobs may need a bankruptcy discharge even more than they did when they initially filed. Thankfully, it is possible for those pursuing bankruptcy relief to proceed with the bankruptcy process, although significant changes are likely necessary.
There are two viable solutions. One is to petition the courts to modify the repayment plan based on the new financial circumstances of the filer. The lower monthly payment and even a reduced total payment timeline might be options that make the Chapter 13 plan manageable.
If the filer is not able to find a new job quickly, their income may drop substantially in the weeks following their job loss. They may eventually be able to pass the means test and qualify for a Chapter 7 bankruptcy. Provided that the conversion of the filing does not endanger any of their valuable assets, switching from a Chapter 13 to a Chapter 7 bankruptcy can be an appropriate solution.
Discussing concerns about a Chapter 13 bankruptcy with an attorney can help people understand their options. Those who lose their jobs and cannot complete necessary payments may need assistance avoiding the dismissal of their cases, and that’s okay.]]>