When people hear about Chapter 13 bankruptcy (also known as a wage earner’s plan), they are afraid of approaching it as an option because they fear they might lose their home or their personal property. However, much of this fear is based on a misunderstanding of what Chapter 13 bankruptcy is. Here are five things you should know about Chapter 13 bankruptcy and what it can do for you:
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Creating your estate plan is an essential part of preparing for your retirement and your end-of-life plans, but many people do not even know where to start. Ensuring you have what you need for your estate plan will help to protect you and your loved ones from the legal and financial complications that can arise as you grow older, and after you pass away. Here are five things you should consider for your estate plan:
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Ideally, you should always be able to trust a guardian to look after their ward and always put their best interests first. Unfortunately, that is not always the case, and you may need to challenge a guardianship for the good of the ward’s well-being. Here are five things you should know if you are thinking about challenging a guardianship:
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An often underestimated, but potentially dangerous, threat to any business is the risk of a conflict of interest among its executives or directors. If left unaddressed, a conflict of interest can result in a conflicted director or executive reaping potentially substantial profits at the expense of the business as a whole. But what exactly is a conflict of interest, and how do you avoid the potential problems that can be caused by a conflict of interest?
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No matter how healthy you are, there is always the risk that you will become incapacitated and unable to make healthcare decisions on your own. However, this is especially a concern for the elderly, and those with long-term health problems that may worsen at any time. That is why, if you are putting an estate plan together, you should seriously consider creating a healthcare proxy so that your wishes are honored if these situations arise.
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For many business owners, the concerns about how to handle day-to-day business are more than enough trouble. However, with business dealings come plenty of potential legal issues, especially when it comes to business contracts. If you do not have a lawyer review or draft your contracts before you sign them, it could cost you a lot of time, stress, and money. Here are just a few reasons why you should make sure a lawyer has gone over your business contracts:
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While not strictly a legal term of art, a business needing to be broken up due to its owners no longer being able, or willing, to do business with one another may lead to a “business divorce”. The process of a business divorce can be nearly as complex and stressful as a personal divorce depending on the issues involved. But why would someone ever need to get a business divorce?
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When you hear the phrase “estate planning” the first thing that probably comes to mind is a Last Will and Testament. But estate planning is broader than that and includes other important documents such as a power of attorney and an advance directive, also known as a health care proxy. These are essential tools in any estate plan, because while a Will dictates what happens to your assets after you pass, a properly written power of attorney and advance directive ensures you are taken care of during life when you cannot care or make decisions for yourself. Without them, you could be facing substantial difficulties later in life that you might otherwise be able to avoid. Here are five things that everyone should know about powers of attorney and advance directives when making their estate plans:
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The process of closing a real estate transaction may seem, in theory, be a simple formality. However, even after potentially lengthy negotiation and working through issues between the buyer and seller, there may still arise something that can cause problems at the very last moment. Here are just a few of the reasons why you might want to have a lawyer present when you are closing on a property:
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Estate planning is an essential part of helping people to deal with troubles that are likely to arise later in their lives, as well as issues that may come up after they pass away. However, not everyone understands estate planning, and some people have a serious lack of understanding about what the process of planning your estate entails. Here are five of the most common misconceptions people have about estate planning:
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