Ask a Lawyer - Archive

I am an individual who is considering filing for Chapter 7. I am also a songwriter and would like help to find more information about protecting my intellectual property. Can you lead me to any state (CA) statutes that will help me get more information about possible exemptions?

California has an exemption scheme available only in bankruptcy that allows a debtor to exempt approximately $22,000 in any kind of property. This is the exemption that you would use to protect your rights in songs that you have written.

The trustee will probably need some information on what kind of royalties your songs have historically generated, so he can value the stream of income they represent.