Geneva Estate Planning And Bankruptcy Blog
What happens if you don’t pay your credit card bill?
Almost every Geneva area resident has at least one credit card. In fact, the average American has four credit cards. Credit cards are used for every day purchases as well as any emergency that may crop up such as medical expenses, car repairs, etc. Although most...
Just how important is a power of attorney for healthcare?
When considering all that is entailed in planning your estate, one of the most important decisions you may make is whether or not to include a power of attorney for healthcare. Choosing a spouse, family member or close friend to be your advocate when it comes to your...
Things nobody warns you about being the executor of someone’s estate
When someone trusts you to handle their estate, you may feel both completely honored to be chosen -- but watch out. While the process of handling an estate from start to finish usually goes smoothly, the job can be somewhat overwhelming if you aren’t prepared. Here...
Are credit cards a scam?
When you start having issues with credit card debt, they can start to feel like a scam. Say you can’t afford to pay off the entire balance. The fees are large enough that just paying them off is all you can manage the next month. This process repeats itself over and...
Is an irrevocable trust the right choice for you?
When you’re considering setting up trusts, something you may want to consider is an irrevocable trust. Irrevocable trusts have a few benefits that you may not see with others. Why? When you create an irrevocable trust, you’re taking assets out of your hands. That...
Claim back your life with a Chapter 7 bankruptcy
When you realized that you weren’t going to be able to catch up on your bills, it upset you a lot. You felt like you were a failure and that you would always be struggling with debt. You should know that most people go through a situation like yours at one time or...
Asking ‘what if’ when writing a trust
One of the most important things you can do while setting up a trust as part of your estate plan is to ask “what if” questions about the future. These questions can help you plan accurately for your children. For instance, you may be considering an incentive trust on...
Don’t neglect estate planning as a new parent
Your children count on you to support them throughout the time they live at home. They usually don’t worry about what’s going to happen to them if you and their other parent both pass away, but this is something that you need to consider. As their parent, you have the...
Do your kids inherit your debts when you die?
If you have a lot of debts, you’re far from alone. The average American household now has a debt load of $137,063 -- and that’s probably not going to change any time soon. For people who are in their senior years, that often leads to a lot of worry about what happens...
Drop in job postings shows that bankruptcy could be coming
It’s been a tough couple of months for the economy, and many people are out of work. It’s hard to find new jobs or bring home any sort of income at all. That may mean that a lot of bankruptcy filings are on the way if the economy does not recover quickly. You can...
