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Supreme Court Issues Ruling on “Final” Bankruptcy Orders

The United States Supreme Court recently issued a ruling on bankruptcy orders, and when, exactly, they are considered “final.” While seemingly trivial and technical, this area of ambiguity has caused significant uncertainty for those seeking bankruptcy protection in the federal courts. By its ruling, the Supreme Court has clarified the rights of parties when they can appeal a decision regarding what is known as an application for relief from the automatic stay. Continue reading “Supreme Court Issues Ruling on “Final” Bankruptcy Orders”

Federal Court of Appeals Upholds Verdict in Favor of Wal-Mart Truckers

The Ninth Circuit Court of Appeals has affirmed a ruling in favor of Wal-Mart truckers, upholding a $54.6 million verdict in their favor. The ruling pertains to a class action suit filed by the truckers, alleging they were legally entitled to compensation for various expenses related to their jobs, which Wal-Mart refused to pay. The Court of Appeals upheld the verdict from the lower court, which said that the drivers were, indeed, entitled to compensation for these expenses. Continue reading “Federal Court of Appeals Upholds Verdict in Favor of Wal-Mart Truckers”

Pier 1 Imports, Inc. Puts Forward Bankruptcy Proposal

Pier 1 Imports, Inc. has said it will close as many as 450 stores and lay off thousands of employees as part of a bankruptcy plan it has presented to investors. Pier 1 Imports, a retail chain specializing in home decorations, has had difficulty maintaining its profitability in the face of the shift from physical retail locations to online shopping. If the bankruptcy plan is accepted, it is not clear whether Pier 1 will survive. Continue reading “Pier 1 Imports, Inc. Puts Forward Bankruptcy Proposal”

What Do You Need to Incorporate?

Incorporating your business can seem like a daunting prospect for anyone who has not done it before. While it is less complicated than many people think, there are many factors that go into incorporation that need to be considered for anyone seeking to incorporate a business. Here are the most important things you need to do so you can incorporate your business venture. Continue reading “What Do You Need to Incorporate?”

New Law Set to Impact RMDs for Inherited Retirement Accounts

The “Setting Every Community Up for Retirement Enhancement Act” (a/k/a the “SECURE Act”) has passed through Congress and has been signed by President Trump, taking effect on January 1, 2020. This new law will have a significant impact on Required Minimum Distributions (RMDs) for inherited retirement accounts. Anyone who has a retirement account, or is set to receive an inherited retirement account, should be aware of these changes. Continue reading “New Law Set to Impact RMDs for Inherited Retirement Accounts”

What is a Power of Attorney?

As you grow older, it is natural for your physical and mental health to decline. While it may be manageable at first, over time it may become harder and harder to manage your own affairs, and eventually you may need to consider allowing someone else to handle things for you. It is for this reason that you should consider whether a power of attorney would be appropriate for you and your estate plan. Continue reading “What is a Power of Attorney?”

Equitable Distribution is Not Equal Distribution

During a divorce, one of the most essential steps is the equitable distribution of marital property. This means that all the money and property acquired by the couple during their marriage will be divided between the two of them. However, dividing up the property isn’t as simple as adding up the value of all the couple’s assets and dividing them in half, because equitable distribution is not the same thing as equal distribution. Continue reading “Equitable Distribution is Not Equal Distribution”

Explaining Chapter 13 Bankruptcy

When many people think of bankruptcy, they imagine something extreme: their property confiscated, their bank accounts emptied, their rooms left bare. And while that can happen to some people in rare and unusual circumstances, there are two primary forms of bankruptcy available to individuals. The more common version, where your non-exempt property may be sold off to satisfy as much of your debt as possible, is known as Chapter 7 bankruptcy. However, Chapter 13 bankruptcy is an alternative option and is more appropriate for particular situations. Continue reading “Explaining Chapter 13 Bankruptcy”

Writing a Last Will and Testament: Five Things to Consider

Writing a last will and testament is always a difficult undertaking. If nothing else, it requires you to confront the fact that you won’t always be there for your loved ones, and you need to plan for what will happen to them when you are gone. However, there are a few things to keep in mind when you are writing your will, to ensure you don’t leave your loved ones with unnecessary problems. Continue reading “Writing a Last Will and Testament: Five Things to Consider”

Consumer Automobile Debt Skyrockets With Rolling Debts

Consumers that borrow money to purchase automobiles increasingly find themselves with debts that far outweigh the value of their cars, according to a new article in the Wall Street Journal. In one noteworthy case, one man found himself with a $45,000 loan on a car worth $27,000. Some commentators have compared this growth of automobile debt to the spate of high-interest mortgages that were common prior to the 2008 housing market crash and are concerned what this high level of debt means for consumers. Continue reading “Consumer Automobile Debt Skyrockets With Rolling Debts”