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Five Unconventional Estate Planning Issues

For many people, estate planning begins and ends with their last will and testament, with perhaps some advance directives to avoid problems if they become incapacitated. However, there are some less well known estate planning issues that you should consider, especially if you own a variety of different types of assets. Here are five estate planning issues you may not have considered, but which may have an impact on you or your loved ones: Continue reading “Five Unconventional Estate Planning Issues”

New Jersey Implements New Background Screening for Guardians

The Administrative Office of the Courts for the State of New Jersey has issued a new directive that will introduce more stringent requirements for certain people seeking to become guardian of another person. These requirements will include a more thorough background check, which is meant to help determine if a guardian is suitable for the responsibility they would be given. Anyone who wants to apply for a guardianship in New Jersey should be aware of these new requirements, and be ready for the additional burdens they will impose. Continue reading “New Jersey Implements New Background Screening for Guardians”

Five Common Reasons People Declare Bankruptcy

For many people, bankruptcy may seem like a personal failing. They may spend their time searching for what they could have done to avoid their financial problems. The fact is, however, that severe financial distress often has as much to do with bad luck as with any decision they made especially in circumstances beyond anyone’s control, such as the COVID-19 pandemic. Here are five common reasons people declare bankruptcy: Continue reading “Five Common Reasons People Declare Bankruptcy”

When Might You Need a Guardianship or Conservatorship?

Most people know, at least in theory, that they should begin planning their estates sooner rather than later. They know the longer they put off writing their wills, establishing advance directives, and taking care of other aspects of estate planning, the more likely it is that they, and their loved ones, will suffer the consequences. Among those possible consequences is needing to go to court to establish a guardianship or conservatorship for an incapacitated family member. Continue reading “When Might You Need a Guardianship or Conservatorship?”

Five Things That Can Complicate Your Real Estate Sale

When you sell a parcel of real estate, you have the expectation that everything will go reasonably smoothly. However, there are numerous things that can go awry before or during a real estate sale that can make things substantially more difficult, introducing potential legal or economic issues you will need to resolve. Here are five potential complications that can arise during your real estate sale: Continue reading “Five Things That Can Complicate Your Real Estate Sale”

Weighing the Costs and Benefits of Bankruptcy

For some people, bankruptcy is a dirty word, and they do not want to confront even the possibility that they might need to declare bankruptcy to deal with their debts. And yet, in the wake of the coronavirus, even people who were previously financially secure have been pushed into situations where bankruptcy seems like an inevitability. Before you decide whether it might work for you, however, you should make sure you understand the costs and benefits of declaring bankruptcy. Continue reading “Weighing the Costs and Benefits of Bankruptcy”

Obtaining Bankruptcy Protection During the Coronavirus Pandemic

While the biggest concern most people have during the coronavirus crisis is to remain healthy and prevent exposure to the coronavirus, the economic impact is a close second. The coronavirus pandemic has, unfortunately, left many people out of work and many businesses closed for the foreseeable future, with unemployment estimated to rise as high as 30%. This means, through no fault of their own, many people have been left in dire financial straits, and potentially in need of bankruptcy protection. Continue reading “Obtaining Bankruptcy Protection During the Coronavirus Pandemic”

Seeking a New Home During the Coronavirus Pandemic

In the middle of the coronavirus epidemic, finding a new home may not be at the top of many people’s priority lists. Most people are looking to stay at home to avoid the coronavirus, not go out seeking someplace new where they’ll need to confine themselves. However, in many ways there has never been a better opportunity to find a new home, and there are ways for you to find your new dream home without exposing yourself to the coronavirus. Continue reading “Seeking a New Home During the Coronavirus Pandemic”

Planning Your Estate During the Coronavirus Pandemic

It's never been more important to have an estate plan in place.

The coronavirus pandemic has brought people’s priorities into sharp relief, making the possibility of mortality more acutely apparent than any other time in recent history. Because of that, consideration of estate planning is likely on the rise during a challenging time when courts are closed, and most legal proceedings are on hold. However, it is still possible to do estate planning even now, and it should not be put off if the sole reason for delay is the inability to travel to a law office and meet with an attorney. Continue reading “Planning Your Estate During the Coronavirus Pandemic”

IRS Tax Filing Deadline 2020

The Internal Revenue Service recently issued Notice 2020-18 on March 23, 2020, announcing that no 2020 federal tax returns for the tax year 2019 are required to be filed until July 15, 2020.  No tax payments in any amount are due until July 15, 2020.  Interest and penalties will only begin to run if payment is not made on or before July 15, 2020.  These rules apply across the board to individuals, trusts, estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax. Continue reading “IRS Tax Filing Deadline 2020”

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