New Yorkers who find themselves in a black hole of debt may consider filing bankruptcy. As part of the requirements for either Chapter 7 or Chapter 13, the filer will likely have to take at least two classes at specific points in the process. The team at Corash &...
Understanding Chapter 11 bankruptcy
At Corash & Hollender, P.C., in New York, we help individuals and businesses facing overwhelming debt to file and proceed through bankruptcy. We therefore know that most people believe that Chapter 7 and Chapter 13 are their only bankruptcy options. Such, however,...
What are alternatives to Chapter 7 bankruptcy?
When residents in New York like you find yourself facing debt that seems insurmountable, you may end up feeling lost and hopeless. Even filing for bankruptcy may seem futile, especially if you are thinking about the potential negative effects of Chapter 7 bankruptcy....
Discussing Chapter 7 bankruptcy with your partner
There are many issues to consider when those who are deep in debt look into the bankruptcy process. First, it is crucial for people who are thinking about bankruptcy to review the different strategies that may be available and make sure that they find a solution that...
Is emotional spending to blame for your bankruptcy?
While filing for bankruptcy may help you start to reclaim your life in New York, it is better to go one step further and pinpoint what led to your filing for bankruptcy in the first place. Maybe your financial woes were due to emotional spending. If you feel this is...
Settling business disputes without going to court
All business owners want to make their vendors, customers and employees happy. But sometimes you may end up in a dispute that you cannot easily settle. When significant amounts of money or a reputation is at stake, sometimes you need to get help. Staten Island...
What do monthly nursing home fees cover?
If you have an elderly parent who requires in-depth care or supervision, placing your mother or father in a nursing home may be advisable. After all, you may lack the skills, time and money to do the task without professional assistance. The average daily rate for a...
4 potential benefits of a revocable trust
A revocable trust is a legal instrument that can dictate how a person’s property is managed and distributed during their lifetime or after they have passed away. As with the majority of legal tools, there are both positive and negative aspects to a revocable living...
What do you know about discussing your end-of-life desires?
While you understand the importance of planning your estate and drafting all the documents, you may struggle to discuss your end-of-life desires openly. How do you bring up the matter with your family and friends? AARP offers tips for sharing your estate plans with...
Don’t overdo the “dead-hand controls” on your trust
Trusts have become an increasingly useful financial tool for people who want to safely pass their wealth onto the next generation. So-called “conditional” trusts, which impose certain obligations on would-be beneficiaries to receive their funds, are particularly...
A spendthrift trust may provide needed asset protection
A spendthrift trust includes specific provisions regarding how a trustee may use its funds on behalf of the named beneficiaries. As noted by SmartAsset, the trustee may exercise broad discretion to spend money on an heir's expenses so that he or she can maintain a...
Here’s why a DIY-estate plan is a bad idea
Creating an estate plan is one of the most important things you can do to safeguard your future, your assets and your loved ones. A well-written estate plan gives you peace of mind knowing that your wishes will be honored when you pass on, or if you become...
Is this a sign of nursing home neglect?
Hearing the many news stories focused on abuse or neglect at nursing facilities likely leaves you feeling concerned for your own loved one. Unfortunately, it is impossible to determine where or when neglect may occur. Noticing red flags can help you react quickly if...
What’s the difference between Medicare and Medicaid?
The “Baby Boomer” generation is getting older and starting to investigate their healthcare options. If you're among that group, you may be wondering exactly how Medicaid plays into your future plans -- and how its relationship with Medicare works. Since 1964, the...
Think of succession planning when starting your business
In the excitement of getting your new business up and running, it is difficult to think of everything you need to do. Succession planning may not be part of your checklist at this point. However, if you have partners, shareholders and employees, there is no time like...
Involve a professional during Medicaid planning
Most people overlook the need for planning for long-term care. Unfortunately, the problem with this kind of thinking is your health can change, especially as you advance in age. No one can project how their health will be in the future. That said, nearly two-thirds of...
