Geneva Estate Planning And Bankruptcy Blog
Pro hockey player files for Chapter 7 bankruptcy
In Illinois and across the United States, people are experiencing a range of financial worries because of the ongoing health crisis still engulfing the nation. That has led to major medical expenses, lost income, the inability to pay debts, the need to use credit...
Is estate planning too expensive?
The year 2020 made everyone think about their own mortality, which made estate planning a hot topic last year. And, as this year has started off much like last year has ended, estate planning is still a hot topic. However, many worry about the expense. Who needs an...
Property that creditors can take in bankruptcy
Filing for bankruptcy helps protect assets if debt becomes overwhelming. While Chapter 7 may provide a fresh financial start, bankruptcy law does not protect all debtor property from creditors. Chapter 7 A Chapter 7 bankruptcy allows the discharge, or remove...
Estate planning and trusts in Illinois
Everyone should have an estate plan, no matter how healthy, young, or old they are. Planning what will happen to assets after death can help people ensure that their property is distributed according to their wishes. There are many options in the state of Illinois to...
Trusts are an effective estate-planning tool
Estate planning is typically focused on passing assets after you die. But planning may include both wills and trusts to help preserve your income when you are still alive. There are some general features you should know about trusts. General description A trust is a...
Will I lose everything if I file for Chapter 7 bankruptcy?
People in Geneva facing financial difficulties in these uncertain times may wonder if filing for bankruptcy is right for them. One fear they may have regarding bankruptcy, though is that they will lose everything in the process and be destitute. However, this fear is...
Considering bankruptcy? Get real information about your options.
Americans are facing a lot of hardship right now. The pandemic spurred a recession which may hamper the U.S. economy for years. If you’ve lost a job, seen a reduction in hours, accrued steep medical bills or suffered any other pandemic-related misfortune, you may be...
Tips on how not to mess up a solid estate plan
We are in a historic time of uncertainty and death. Every day, we are faced with news reports of the national crises and accompanying death toll that seems to never stop increasing. Naturally, as a result, many of us are now looking to create or update our estate...
A reaffirmation agreement can help you keep assets
A lot of people who struggle with debt are worried that personal bankruptcy will leave them in a worse position. They oftentimes believe that a Chapter 7 bankruptcy will strip them of all of their assets, making it nearly impossible for them to get back on their feet...
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...
