Financial Planning

What happens to your estate after you are gone is very much within your control.  

Estate planning is not only for the wealthy; it is for everyone.  It is simply the process of deciding where your assets are to be distributed after you die.  You never know when you might need a will or an advance health care directive as illness, disability, or death can strike at any time.

Getting your affairs in order will help ensure that your assets go to the right people, your wishes about your medical care will be respected, and that the people you trust will be in charge of your affairs if you can’t make decision for yourself.

The right plan can protect the value of your estate and spare your loved ones unnecessary hassles and legal conflicts.

Financial Planning

What happens to your estate after you are gone is very much within your control.  

Estate planning is not only for the wealthy; it is for everyone.  It is simply the process of deciding where your assets are to be distributed after you die.  You never know when you might need a will or an advance health care directive as illness, disability, or death can strike at any time.

Getting your affairs in order will help ensure that your assets go to the right people, your wishes about your medical care will be respected, and that the people you trust will be in charge of your affairs if you can’t make decision for yourself.

The right plan can protect the value of your estate and spare your loved ones unnecessary hassles and legal conflicts.

FAQs

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Is your question not here? Contact us today and we’ll respond within 24 hours.

Secured debt is a claim that’s secured by some type of property, either by an agreement or involuntarily with a court judgment or taxes. Creditors can generally claim the property (and take it to pay off the debt ) in the event of bankruptcy. Unsecured debt is not tied to any type of property, and the creditor can’t claim it if you file for bankruptcy. A mortgage is a secured debt on you property.
  • Consumers typically file Chapter 13 bankruptcy, where repayment is made to creditors, or Chapter 7 where the debts are dismissed. Each chapter of bankruptcy spells out:
  • What bills can be eliminated
  • How long payments can be stretched out
  • What possessions you can keep
  • Additional information

The type depends on your circumstances and if you have assets available to repay all or part of the your debts. Bankruptcy laws can be tricky and involved, so determining if, when and which type of bankruptcy you need should be made with careful thought or the input of a bankruptcy lawyer.

Generally, you can convert a case one time to any other chapter you’re eligible for. The request to convert can be a simple one-sentence document. Watch out for pitfalls, though. For instance, if you move from Chapter 13 to a Chapter 7, some of your possessions may be part of the Chapter 7 estate (and can be taken and sold to pay your debts), even though they were safe from creditors under Chapter 13.
With few exceptions, any person or business owing money to a creditor can file a bankruptcy petition.
Filing bankruptcy can adversely affect your ability to obtain future credit, rent housing and even negatively impact a job application. Any decision to file must be carefully considered.

FAQs

Click on the toggle to open up the answer.

Is your question not here? Contact us today and we’ll respond within 24 hours.

Secured debt is a claim that’s secured by some type of property, either by an agreement or involuntarily with a court judgment or taxes. Creditors can generally claim the property (and take it to pay off the debt ) in the event of bankruptcy. Unsecured debt is not tied to any type of property, and the creditor can’t claim it if you file for bankruptcy. A mortgage is a secured debt on you property.
  • Consumers typically file Chapter 13 bankruptcy, where repayment is made to creditors, or Chapter 7 where the debts are dismissed. Each chapter of bankruptcy spells out:
  • What bills can be eliminated
  • How long payments can be stretched out
  • What possessions you can keep
  • Additional information

The type depends on your circumstances and if you have assets available to repay all or part of the your debts. Bankruptcy laws can be tricky and involved, so determining if, when and which type of bankruptcy you need should be made with careful thought or the input of a bankruptcy lawyer.

Generally, you can convert a case one time to any other chapter you’re eligible for. The request to convert can be a simple one-sentence document. Watch out for pitfalls, though. For instance, if you move from Chapter 13 to a Chapter 7, some of your possessions may be part of the Chapter 7 estate (and can be taken and sold to pay your debts), even though they were safe from creditors under Chapter 13.
With few exceptions, any person or business owing money to a creditor can file a bankruptcy petition.
Filing bankruptcy can adversely affect your ability to obtain future credit, rent housing and even negatively impact a job application. Any decision to file must be carefully considered.