The money and assets that you leave your heirs in your estate plan are known as bequests. Many parents make these equal so that all their heirs get the exact same amount of money. There may be some difference in heirlooms and other unique assets, but things are...
Year: 2021
At least 18% of Americans are struggling with medical debt
There is no disagreement that health care in America is expensive. If you suddenly have a serious injury or illness and need emergency care, that care could cost thousands upon thousands of dollars. The Journal of the American Medical Association completed a study...
Your estate plan is a protection against bankruptcy
Although it may seem like estate planning and bankruptcy are two completely different topics, estate planning can help you effectively manage your assets and protect them against bankruptcy if you ever need to file. In your estate plan, you have several options that...
3 reasons to keep your New Jersey estate plan updated
Most people create an estate plan at some point in life to prepare for what will happen to their assets when they are incapacitated or no longer around to make crucial decisions. However, an estate plan needs to be revised from time to time to reflect the changes in...
How long will bankruptcy limit credit options after you file?
Your credit score determines everything from what job promotions you can receive to how much interest you pay on a mortgage or credit card. The higher your credit score, the better your opportunities in life. Bankruptcy involves declaring your inability to repay your...
Must I lose my home if I file for bankruptcy?
One of the biggest fears of anyone who files for bankruptcy is that they are destined to lose their homes in the process. While in some cases, it is indeed possible to lose your home due to bankruptcy, that is far from a foregone conclusion. Because carrying a heavy...
How to decide whether to pursue debt consolidation or bankruptcy
Mounting debt can be an overwhelming experience. You might find yourself needing to select between two less-than-attractive options: debt consolidation or filing bankruptcy. Both of these debt relief options carry with them their own host of pros and cons. Learning...
How do you pick the right trustee?
Whether you want to start a trust so that you can qualify for Medicaid if you need it later or provide financial support for a family member with special needs, the trustee you choose is of the utmost importance. The trustee will have authority over the assets in the...
An advance directive can give your family peace
Have you created any type of advance directive for your medical future? This is an important part of estate planning that goes beyond simply making a will for your assets. The advance directive tells the doctors and nurses about your preferred types of medical care,...
The top 10 causes of bankruptcy
Bankruptcy can happen to the most reckless spenders and the most cautious savers. It often has very little to do with the financial decisions any one person made. There are usually factors that are outside of your control that help to cause a bankruptcy filing. To...