Estate planning is something that the majority of Americans have not yet done. Studies have found that about two-thirds of people don’t have an estate plan. This can be somewhat surprising, considering that estate planning should, in theory, be very common. Won’t...
Year: 2022
Are you allowed to file for bankruptcy more than one time?
Filing for bankruptcy allows you to get a fresh financial start and eliminate the stress and burden of accumulated debts. Once the process is complete, you may think you won’t have similar financial issues in the future. Unfortunately, life is anything but...
What kind of debt can be discharged with a Chapter 7 bankruptcy?
Making the decision to file for bankruptcy is incredibly difficult. It’s a financial position that no one would choose to be in and it can feel truly devastating. It’s important to recognize, however, that filing for bankruptcy can be the best choice you make for you...
Yes, you can change your child’s designated legal guardian
You and your spouse or partner gave a lot of thought to choosing the person who would become your child’s legal guardian should something happen to both of you. You chose a family member or close friend you trusted to raise your child with the same basic values and...
Should you choose an adult child as your estate executor?
One of the most critical decisions involved in estate planning is choosing the right party to fill the role of estate executor. Some qualities to look for in your candidates include honesty, attention to detail and reliability. Since your adult kids are familiar with...
Talking with creditors can give your business a fighting chance
Most entrepreneurs have to deal with cash flow issues at one point in their lifecycle. Unfortunately, this often leads to a daily struggle of following outstanding payments and juggling creditors. Eventually, you may find yourself missing financial obligations to your...
Will one of your heirs waste their inheritance?
One concern that people sometimes voice about leaving their assets to their heirs is that they think their heirs may squander the money. They’ve worked very hard over the course of their life, and they do want to leave an inheritance, but they struggle with the...
Options to address a more complex bankruptcy case
Bankruptcy doesn’t always happen for just one reason. It’s not as if someone takes out a loan, can’t pay it back, and suddenly has to declare bankruptcy. There are usually a lot of different factors that all contribute, and the overall financial situation can be very...
Why is a medical power of attorney important?
Estate planning often starts with writing a will and determining how to give away your assets. You want to pass the things that you own on to your children or other beneficiaries, such as close family friends. But this isn’t all that estate planning can do. It’s just...
Exploring the root causes of bankruptcy
The term bankruptcy still carries with it a certain level of stigma. It is often thought that an individual must be careless with finances before bankruptcy even comes into the conversation. The reality is much more nuanced than this though. While reckless spending...