You may have heard of someone leaving one of their children or other relatives a dollar in their will. Why would they do that? Was it a joke? In many cases, leaving someone a token inheritance is not a joke. It’s actually a legal strategy that can help stop that person from contesting the will.... read more
Have you declared bankruptcy? If you have, you may not be in any hurry to admit it. Bankruptcy is often looked down upon. People see it as a sign that you’ve failed, but that’s not necessarily the case. There are many reasons why bankruptcy is nothing to be embarrassed about. Here are a few of... read more
If you’ve made the decision to file for bankruptcy, one of the early steps is to make a list of all of your assets. However, before you can do that, you need to understand what the court considers assets. You may find that some of the things you own don’t count, but others you assumed... read more
Your will is one of the most important documents you’ll ever write. It outlines your final wishes and what you want done with your assets. While a lot of people only think about writing their will once, it’s actually a document you should update from time to time. When should you change your will? Here... read more
Next week, millions of Americans will begin receiving direct deposits from the federal government as part of the $2 trillion coronavirus rescue package signed by President Trump last month, but in some cases, private debt collectors may still be able to access that money. Here’s what you need to know. Right now, there is no... read more
While many people will tell you that you cannot discharge any tax debt through bankruptcy, the truth is that it’s not impossible, just more difficult than discharging other types of debt. There are some situations where you can discharge some or all of your tax debt during the bankruptcy period, but you must meet specific... read more
Please be advised that New York has temporarily suspended debt collection only for money owed to the State . New Yorkers who owe money to the state, effective immediately, will no longer have to pay their student debt, medical debt, and other forms of state-referred debt, for at least 30 days because of the COVD-19... read more
NEW YORK – The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit, which shows that total household debt increased by $193 billion (1.4%) to $14.15 trillion in the fourth quarter of 2019. This marks the 22nd consecutive quarter with an increase, and the... read more
Coronavirus’s economic danger is exponentially greater than its health risks to the public. If the virus does directly affect your life, it is most likely to be through stopping you going to work, forcing your employer to make you redundant, or bankrupting your business. The trillions of dollars wiped from financial markets this week... read more
Generally, when a person is writing a will, they talk to the person they plan on naming as their executor to let them know that such a responsibility is coming. This is, ideally, the best time to decline being named as executor. However, circumstances may lead to you being named executor of an estate without... read more