Geneva Estate Planning And Bankruptcy Blog
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...
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...
