Many people across New York are struggling to stay on top of their finances, and if you are among them, you may be considering bankruptcy. A personal bankruptcy filing, such as a Chapter 7 or 13 bankruptcy, may help you get a fresh start and a better grip on your...
How do Chapter 7 and Chapter 13 bankruptcies differ?
When your finances spiral out of control and you have little, if any, chance of getting back on track within a year, you may want to consider seeking relief through bankruptcy. Depending on how much disposable income you have available, among other variables, you may...
How does Chapter 11 handle unprofitable leases?
If your business seems headed for financial insolvency, the problem might be your leases. Like other businesses, you enter into leases with landlords to set up your business locations across your community. But if one or more of these locations does not draw in a...
Credit cards after Chapter 7
If you are going through Chapter 7 bankruptcy, it is likely that getting new credit cards is the last thing on your mind. However, there are ways that you can leverage certain varieties of credit cards to help you on the path of rebuilding your credit in the aftermath...
What affects your credit score the most?
Before a lender can offer you money, he or she will check your credit score. Forbes explains that your credit score helps lenders determine whether you are a trustworthy borrower. Your credit score can be anywhere between 300 and 850. The higher your score, the more...
3 common causes of disputes over inheritance
When a family member passes away, this can cause great emotional upset to those closest to them. Not only do loved ones have to grieve, but there are also many organizational factors to consider. One crucial aspect that must be settled is how the deceased estate...
Should you have a living will or power of attorney?
Estate plans not only to protect your family after you are gone. They can also safeguard you while you are still alive. Certain legal documents ensure you can communicate your medical wishes to health care staff in the event of serious illness or injury. According to...
What makes a will invalid? 3 common pitfalls
Creating a will allows you to decide what will happen to your assets and belongings when you pass on. The document rightfully serves as your last instructions to your loved ones. As such, you want to be certain that it will be recognized and your final wishes will be...
How dying without a will may affect property in New York
Without a valid will, also referred to as dying “intestate,” the deceased's real estate may end up transferring to the State of New York. If an individual dies intestate and has no surviving family members, the Empire State may end up owning his or her property, as...
Do you think a caregiver influenced a loved one’s will?
The estate plan or will that someone leaves behind when they die should be a reflection of their wishes and relationships. People often invest much personal effort into the creation of an estate plan that leaves something meaningful for each of their loved ones. ...
Do children conceived after the death of a parent have inheritance rights?
Reproductive technology has come a long way. The things doctors are able to do are simply amazing. One of those things is to take genetic material from parents and create children outside of the body. This opens the door for some tricky situations after one of those...
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...
