Ohio's Simultaneous Death Act

simultaneous death act

What happens to an estate when a husband and wife die at the same time?  How do you handle the property of each estate?  Ohio Revised Code § 2105.32 states that there has to be clear and convincing evidence of one person surviving another for 120 hours in order to inherit property.  What if  you cannot…

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Requirements for Creating a Valid Last Will & Testament

How do you properly memorialize your last wishes in your Last Will & Testament?  You want to make sure your wishes are clearly set forth as to who is in charge of your estate, how you want your property split up and distributed to family and/or friends, among many other issues.  Even though you may…

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Rebuilding Credit After Bankruptcy

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 One of the reasons you might file bankruptcy is to get out from underneath the daunting debt that has piled up over time.  But how do you build your credit back up after your bankruptcy case is discharged?  Many individuals will want to purchase a home or motor vehicle in the future and it is…

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Even the Debt Collectors Have Rules to Play By

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 At the end of a long work day, and after you have put the kids to bed, cleaned dishes, all you want to do is relax. Then the phone rings…and rings…and rings. You recognize the number as a collection agency calling about your delinquent credit card bill. What are debt collectors allowed to do and what is off…

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Fireworks! What is the Law?

Ohio Law Governs Fireworks Q: What kinds of fireworks can be lawfully set off in Ohio? A: Only “novelty and trick” fireworks, such as party poppers and glow worms can be discharged by unlicensed individuals. Section 3743.01 of the Ohio Revised Code defines these novelty and trick items as follows: “(1) Devices that produce a small report intended to surprise…

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Chapter 13 Bankruptcy: What Does My Attorney Do?

The Duties of the Chapter 13 Bankruptcy Attorney In a Chapter 13 bankruptcy, your attorney performs the following functions: Examines your financial situation and determines whether a Chapter 13 filing is a feasible alternative for you, and if so, whether a single or a joint case should be filed; Assists you in the preparation of a budget;…

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Who's Filing for Bankruptcy?

College Graduates Filing Bankruptcy at Higher Rate A report by the Institute for Financial Literacy, finds that college graduates and people with advanced degrees are filing more often.  In fact, since the passage of the Bankruptcy Abuse Prevention and Protection Act, holders of higher education degrees have increased their filings by about 20 percent. Despite the rise in…

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Payday Loans: Playing with Fire

Quick Fix or Burdensome Debt?– Financial Quick Sand of Payday Loans  Payday loans provide a quick cash resource for many people, but more often than not, this quick fix can turn into overwhelming debt very quickly, burying a borrower in debt with massive interest rates attached.  These loans are usually seen as a short-term solution for bills…

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Debt Problems of the Founding Fathers

Maybe the Reason the Founding Fathers Included Bankruptcy in the Constitution The founding fathers were the architects of american government, and we generally remember them as great infallible men.  Yet several of them had personal financial problems that in today’s world would cause them to consult with a bankruptcy attorney. One of the founding fathers, Thomas…

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