Virginians who lost their homes through short sales or foreclosures were previously allowed to exclude up to $2 million in forgiven mortgage debt before 2018. However, the provision that allowed people to exclude forgiven mortgage debt ended in 2017. This means that...
Perhaps you have decided now is the time to tackle estate planning; you have put it off long enough. What is your game plan? Which estate planning tools best address your situation? With an idea in mind and a little advance preparation, the task will be much less...
Medical treatment can leave people in Virginia struggling with massive quantities of medical debt. People across the country are facing costly medical bills that they cannot afford to pay, even when they have health insurance in place. In fact, medical debt is the...
The purpose of Chapter 7 personal bankruptcy is to provide a fresh start for an individual who has fallen behind on obligations to creditors. Most Virginia residents are aware to some degree that certain categories of debt are not dischargeable in accordance with...
Who can forget the overwhelming joy many in the LGBTQ+ community felt when the U.S. Supreme Court handed down its decision to effectively legalize same-sex marriage across the United States? That said, that decision obviously did not mandate every LGBTQ+ person to...
According to Federal Reserve Data, Virginia residents and others have combined to accumulate $1.05 trillion in revolving consumer debt as of the fourth quarter of 2018. Consumers have accrued $870 billion in credit card debt, which beats the previous record high set...
Debt collectors in Virginia and around the country have become increasingly aggressive in recent years, and daily calls demanding payment have become the norm for people who are struggling to make ends meet. The tactics used by third-party bill collectors often border...
Failing to make a car payment on time could result in an individual's vehicle being repossessed. However, lenders in Virginia and throughout the country don't want to see that happen. Usually, it is more expensive to repossess a car as opposed to working out a new...
Virginia and many other states have adopted a version of the Uniform Trust Code. This law establishes certain obligations toward trust beneficiaries, requiring that they get the necessary information about the trust to protect themselves. However, for various reasons,...
Statistics show that the U.S. spends more on health care per capita than any other country. However, not all of this is government spending. Many Virginia residents carry a heavy burden of medical bills. This has resulted in an ever increasing inability to pay for...
