(1) If the Debtor has a history of tithing or making other charitable contributions, can the Debtor continue giving to charity?
(2) If the Debtor has a history of making annual gifts to his children, can the Debtor continue making those gifts?
The answers can never be better than a “maybe, it depends”. Mostly, it depends on whether the Debtor is in bankruptcy, or (if not) whether the Debtor is “insolvent” — the latter which may be established by the fact that the Debtor is not paying bills as they come due.
(2) If the Debtor has a history of making annual gifts to his children, can the Debtor continue making those gifts?
The answers can never be better than a “maybe, it depends”. Mostly, it depends on whether the Debtor is in bankruptcy, or (if not) whether the Debtor is “insolvent” — the latter which may be established by the fact that the Debtor is not paying bills as they come due.
Have A Tax Problem?
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at: www.TaxAid.us or www.TaxLaw.ms or
Toll Free at 888-8TaxAid (888 882-9243).
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