When an individual files for bankruptcy, they create a plan on how to pay back their debt. After this is done, certain steps must be followed to complete the process. Regardless of whether individual or business bankruptcy is filed, the individual will attend a meeting of creditors. This is sometimes referred to as the Section…
People create an estate plan in order to prepare for what will happen to their assets after their death. When this is done, people often wish to appoint a power of attorney as well. Sometimes, individuals reach a point in their life where they are no longer capable of making decisions for themselves. When this…
Contrary to popular belief, filing for Bankruptcy can be beneficial for individuals. Filing for Bankruptcy can give individuals a fresh start. It has the potential to save people from losing their home or business through the restructuring of their finances. When an individual files for Bankruptcy, the Bankruptcy Court enforces what is called the Automatic…
Filing for bankruptcy can be seen as an intimidating and frightening thing for many people. While this may be true, it is important to know that often times, an individual who files for bankruptcy is a middle-class citizen with a job, home, and children. It is also crucial to know that individuals in these situations…
When an individual creates an estate plan, they are preparing for what happens to their assets after their life is over. In the process of creating an estate, an individual must appoint someone to take care of these wishes. This person is called an executor. An executor is in charge of administering an estate so…
While it can be overwhelming, creating an extensive estate plan is one of the most important things an individual can do for themselves while they are alive. Having an estate plan allows an individual to be in control of their lifelong collection of assets and belongings after they pass away. When creating an estate plan,…
One of the most important things an individual can do for themselves while they are alive is creating an extensive estate plan. By doing so, they will have a plan for what happens after they pass away. This helps an individual to protect their assets and belongings. This includes things like real estate, bank accounts,…
It can be beneficial for you to plan for your estate administration. By planning for your estate administration, your friends and family will not have to worry about your possessions and what to do with them. Instead, you will have already created a plan for them. Probate is an important part of the estate administration…
During times of financial difficulty, individuals can turn to the bankruptcy process to help them fix their situation and work toward a more successful financial future. This process can help them take a look at their finances and see where they went wrong and how they can improve their situation. When you are unsure of…
When people administer their estate through a will and other documents, they include directions on how to complete this process and who should be involved in it. This provides an outline on how they want their assets to be distributed when they die. They can include the names of beneficiaries in their will. These beneficiaries…
