If you’re considering bankruptcy to get out from under crushing debt at the same time you have a child who plans to go to college within a few years, you’re likely doubly anxious about your financial situation. While bankruptcy can be the best solution, it’s crucial...
Year: 2024
Does everyone else already have an estate plan?
Do you ever feel like you’re falling behind with estate planning? Maybe you know that you want to write a will. Maybe you’ve already thought about which beneficiaries are going to get certain family heirlooms or how you want to divide your money among your children....
What are the emotional effects of bankruptcy?
Declaring bankruptcy can significantly affect one's mental health. However, this is usually overlooked, as most people focus on financial effects. While the latter consequences are serious, it's vital to also take into account the emotional effects of bankruptcy,...
Planning to keep financial accounts out of probate proceedings
Different people approach estate planning with vastly different goals. A person's resources and their closest relationships directly impact their estate planning priorities. Regardless of what specific goals an individual has, maximizing how much of their personal...
What you should know about New Jersey’s inheritance tax
New Jersey is one of just six states that has an inheritance tax. Whether someone may be assessed the tax depends on where they live – not where the person who left the inheritance lived. Therefore, the fact that you live in New Jersey doesn’t affect whether a...
What exactly is an estate plan?
You may have heard that it is important for adults to create an estate plan and to keep it updated. This is certainly true. But, it’s tough to make that goal a reality if the idea of estate planning is a murky one. By better understanding what an estate plan is, you...
Is bankruptcy your own fault? Probably not
People are sometimes hesitant to file for bankruptcy. They do have overwhelming debt. Bankruptcy could eliminate some of that debt or re-organize it into an affordable monthly payment. But they still don’t want to use this legal process. The reason they will sometimes...
Reasons to switch your child’s legal guardian designation
As a parent with a young child, you need to have a specified legal guardian named in your estate plan. This can help to ensure that your child will be cared for in the event that something happens to you and the child’s other parent. There are various reasons why you...
2 ways you can you prepare to file for bankruptcy
Are you facing a risk of foreclosure on your home, getting hounded by creditors or feeling overwhelmed by debt in other ways? If you are, then bankruptcy might be the answer you are looking for. Filling for bankruptcy shouldn’t feel like a shameful thing to do; it can...
What to include in your estate plan for your children’s welfare
Since life can be so uncertain, you should go the extra mile to help safeguard your children’s well-being. Do you know the most critical elements you can incorporate in your estate plan to secure your children’s future? Planning your estate with your kids in mind can...