RSSsolving bankruptcy case problems
Dec 30
The best course is to thoroughly investigate the facts, do the research, give the clients an opinion letter outlining the pros, cons & risks and let them make an informed decision as to how to handle their problem. If your research is inconclusive or there are too many variables for you to predict an outcome with any degree of comfort, just tell them. Let them do the risk management and make their down decisions with your guidance. A final fall-back option is many of these cases is to unwind the transfer and wait for the clock to run out on any reachback time period under 548 or 544(b). Too many variables is a good point to make with clients. I explain that the USSC divides 5/4 on many cases, so it is very hard for any one atty to guess what 9 wise men and women will do on any given day, NTM the equities of each case also influence the outcome of many cases that in law may look similiar—like even though many of us have more than one child we do not treat them equally every day—there are just some days when one child has to have more attention, so as they taught us on day one in law school the real answer is always “it depends”. Probably not reassuring to our clients, but it is truthful, and if they don’t like that have them ask their doctor how long they will live considering their current medical history, lifestyle and family history—then ask them why they expect us to know more about them and folks we have never met than their doctors do with all their objective tests.
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