Experienced in bankruptcy and estate tax planning, David Gomez recently served as an affiliate with Platinum Law Group in Southern California. In this role, he engaged with a Beverley Hills-based practice known for proactively representing clients and achieving optimal results. David Gomez and his colleagues at Platinum Law Group received recognition for their handling of complex bankruptcy settlements.
California personal bankruptcies fall under the state of California's 2005 Bankruptcy Act, through which income and expenses are assessed and a determination made as to whether Chapter 7 is applicable or Chapter 13 must be pursued. The means test requires examining average income for the half year before filing, in comparison with median state incomes. In cases where the income over six months is less than the median, Chapter 7 can be filed.
The attorney’s role typically begins with helping prepare tax returns dating back two years and providing itemized information on current income sources. In addition, assets, monthly living expenses, significant financial transactions over the past two years, and debts need to be documented in full before bankruptcy can be filed.