Even if you do your best to maintain good financial standing, there may come a point when you find yourself heading down the wrong path. And if you continue down that path for too long, you could end up face-to-face with the bankruptcy process. There are many reasons...
Year: 2020
Selecting the right guardian is critical during estate planning
If you have kids, their safety is probably one of the most important considerations when you create an estate plan. You want to know that your children will have resources to provide for them and that they won't wind up in foster care or state group homes without any...
Can you keep your home after bankruptcy?
The home you purchased is one you worked hard for. You have been living there for years, and you want to remain in it for years to come. Your children are growing up here, and you couldn’t ask for a better location. Unfortunately, when you lost your job, you found...
Should you leave life insurance directly to your heirs?
When you buy a life insurance policy as part of your estate planning efforts, you get to pick beneficiaries for the plan. These are simply the people who get paid when you pass away and the policy pays out. If they do not match what you write in your will, the...
How does filing for bankruptcy affect your ability to get credit?
Some of the negative rumors about bankruptcy floating around can keep people from filing when they would actually benefit substantially from an automatic stay and a discharge of their unsecured debt. One of the most persistent and harmful myths about bankruptcy is...
Understanding power of attorney in New Jersey
Estate planning is planning for the unknown. Giving someone power of attorney, to make a decision when you cannot, is part of that plan. They can do things or make decisions on your behalf if you are unable to for some reason. There are two types of power of attorney:...
Carrying a large amount of debt? There are options to help
Did you know that the average household in America has $5,700 in debt? That debt may be held as credit card debt or other types, but it can certainly weigh down your ability to afford a comfortable lifestyle. As someone who is in a balance-carrying household, you...
A look at the pros and cons of an irrevocable trust
More and more people in East Brunswick, NJ, are realizing the importance of proper estate planning. As such, knowledge about the many options to choose from when planning an estate is growing. Despite the ongoing spread of knowledge, many estate planning terms and...
Are you worried about how your children will pay your debt?
As you do your estate planning, do you find yourself wondering if you have too much debt? Maybe you’re concerned that you’re not leaving a positive legacy for your children. Instead, you’re just leaving them a lot of debt that they’re somehow going to have to pay once...
You can’t always control bankruptcy
People often feel like they can control whether they go bankrupt. They assume that they can make wise spending choices, keep a budget or avoid credit cards. They assume that those who do file for bankruptcy must have made some serious mistakes. The truth, though, is...