John C Menszer

Chapter 13 works best for those about to lose property in a foreclosure or garnishment. It is also for those with too high an income to file Chapter 7 bankruptcy.

When heirs do not get along or cannot be found it can be important to apply to be the administrator of an estate. The administrator can sell property to pay estate debts and take other actions to preserve and aggregate estate property.

The benefits of a Chapter 7 are that it can usually be wound up in 4 months can help a person turn around her life in a short amount of time. Chapter 13 bankruptcies last 3 to 5 years and restrict a person's access to credit and their income tax rebates. The downside is that a Chapter 7 can only be filed 8 years after a previous discharge.

A will allows a person to direct the transfer of their property after their death. Without a will the State makes those decisions. A person can also choose who will be responsible for a minor child. In a will a person can choose who will administer their estate and whether that person will be able to act unsupervised or will require court authority.