Is it possible to keep your assets while filing for bankruptcy? YES! You are not left without anything in a Chapter 7–and in a Chapter 13 you are entitled to keep everything. And, for almost all Chapter 7 filers, you can keep all your assets. Sometimes it takes a little planning, but most people are entitled to keep all of their assets.

In your estate plan you designate someone to manage and distribute your assets upon your death or incapacity.  Your assets include all real property (i.e. home and land) and personal property, bank accounts, cars, etc...  If you die intestate and do not have a will or trust your assets, and their distribution, will be determined by the courts.  During the probate proceedings, a judge will appoint someone to handle your assets and your assets will be distributed, under