Monthly Archives January 2019

Before You File

If you are considering filing for bankruptcy, there are steps you can take to try to avoid bankruptcy. First, put together a budget that gives you a realistic chance of getting out from under debt. Second, consider whether moving, getting another job, or renegotiating your debt will put you in a better position to succeed. If, despite all your efforts, you see no way of improving your financial situation short of filing for bankruptcy, consult with an attorney. While bankruptcy can cancel many of a person’s debts, it does not cover most student loans, government debts, child support and maintenance,
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Mediate or Litigate

MEDIATE:     To effect an agreement or reconciliation LITIGATE:     To dispute or contest Mediation or Litigation? Both are common ways to resolve a family law dispute. Which way is right for you? That depends on your objectives, your circumstances, and the other party. If the two of you are committed to being open and honest with each other and both desire to reach a settlement without court intervention, then mediation may be right for you. On the other hand, if there is significant animosity between you or one or both parties are “out to get” the other, then the traditional litigation
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All in the Execution

While a person might be flattered that he or she has been appointed executor of someone’s estate, accepting the role necessitates some hard thinking. An estate executor is likely to find the job to be lengthy and exhausting. Generally, it is the estate executor’s job to protect a deceased person’s property until all debts and taxes have been paid, after which the remaining funds and property must be transferred to the people entitled to them. Among the many tasks required to be performed are: filing the will with the probate court, preparing and filing the many forms needed to begin
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Explaining Your Will to Heirs

While most parents choose to divide their assets equally among their children, others choose to leave more to one child than another. This unequal distribution leaves many children baffled and even disgruntled enough to challenge the will. Sometimes the situation may be explained by the fact that an equal amount cannot be left to a special-needs child because doing so would jeopardize his or her eligibility for government benefits. In any case, when parents do not intend to split their assets among their heirs equally, they should either discuss the matter with their children or leave a detailed letter of
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A Durable Solution

If you were to become incapacitated and unable to handle matters on your own, the legal document known as a “durable power of attorney” gives a person of your choosing the power to manage your affairs. Although it might be unsettling to anticipate such a fate, it is important to make provisions for a durable power of attorney while you are still mentally and physically healthy. Once you have lost your legal capacity to sign a power of attorney, the only recourse is to pursue a guardianship, often a lengthy and costly process. When drawing up a power of attorney,
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