Making the choice to file for bankruptcy is not easy. California consumers who face this choice often do so because they feel that they have no other options. While filing for bankruptcy may feel like a last resort to you, it may actually offer you many benefits, including the opportunity to have a future that is free from overwhelming debt.
For some people, a life event prompts them to create an estate plan. For example, getting married, having a baby or turning 40 may be monumental enough in a person's life to cause him or her to face mortality and write a will. If you are one of those people, congratulations! You are among the very few who take the time to express their wishes so that there are no questions about what to do with your estate when you are no longer living on this earth.
As a business owner, you put countless hours and effort into starting and building your business. In the beginning, you took every necessary step and left nothing out, but as you move forward, you would be wise also not to forget to plan for the end. Whether it is due to illness, your unexpected death or retirement, you will eventually leave your business one day. You can decide what happens next.
If you are facing an overwhelming amount of debt, chances are, you may be suffering a lesser quality of life in the process. Struggling to keep up with monetary obligations can be stressful enough on its own, and the constant phone calls may do little to ease your worries.
As you begin to think about getting your end-of-life affairs in order, you may focus a great deal on how you should distribute your assets. One of the most common ways individuals choose to carry out this task relates to creating a will. You can include a variety of information in this document, and it may help you cover many areas of your estate-planning needs.
Going through bankruptcy can be a complex legal process. You may have felt uncertain about whether or not to actually proceed with this type of debt relief as opinions on the process can vary. However, bankruptcy can offer you a multitude of benefits when it comes to addressing your outstanding debt. Therefore, you may wish to better understand certain aspects of this option.
Surviving family members have many responsibilities after a loved one dies. If your loved one created a thorough estate plan, you and other family may have an easier time addressing the settling of the estate. However, many people die intestate, or without a will, and in such a case, you may have to take more steps to effectively address estate needs.
You know that bankruptcy is an option for individual consumers who are overwhelmed by debt and unable to manage payments owed to creditors, but you may not realize that bankruptcy is also an option for business entities that have overwhelming debt as well. Chapter 11 bankruptcy may offer relief and debt reorganization for businesses in difficult financial circumstances.
If you're the parent of one or more young adult children, you've probably wondered at how quickly time seems to pass. In fact, you might recall the moments you first brought your infants home from the hospital, their first days of school, when they learned to ride bikes, etc., as though these milestones occurred only yesterday. In reality, you know that two or more decades have passed, and you're concerned about your loved ones' futures, along with whether you have taken appropriate steps to provide for them when you're gone.
Because you love your family, you undoubtedly want to make your eventual passing as easy on them as possible. Estate planning can offer many options for doing just that as you can plan the handling of your estate rather than leaving it up to your family to decide while they go through the grieving process. Therefore, no matter your age, you may wish to get a jump-start on your planning.