When Virginia residents file Chapter 7 or Chapter 13 personal bankruptcy petitions, an injunction known as an automatic stay is issued. This injunction is designed to give individuals the time they need to put their financial affairs in order, and it places strict...
A complete estate plan may require more than just a will, a trust and powers of attorney. When a person with substantial assets dies, family members sometimes dispute the wording in the will and precipitate lengthy legal battles. Financing such disputes in Virginia...
Many people have the misconception that bankruptcy will discharge all of their debts. First, there are two types of bankruptcy you could file, Chapter 7 or Chapter 13. In Chapter 7, the court could theoretically order all of your debts discharged. In Chapter 13, you...
Estate planning tools can help minimize a family's tax obligation in the future. However, Virginia residents and others may also want to consider how family dynamics could influence the effectiveness of an estate plan. For instance, siblings who don't like each other...
Virginia residents who are struggling to keep up with their debt payments could benefit from filing for bankruptcy. Mortgages, auto loans and credit card bills are among the types of debts that could be discharged. It is also possible to have rent, past due utility...
Americans spend about 10 percent of their monthly income on debts such as auto loans and credit cards. While that may not be a dangerous level for most people, it is a good idea for Virginia residents to know where that debt is going. As a general rule, student and...
There are many reasons why Virginia estate holders may want to create trusts. One major reason may be for the avoidance of probate. You may also want to state the terms of the distribution to your beneficiaries as opposed to them receiving all your assets outright at...
Many people in Virginia and across the country are struggling with overwhelming debt, especially as credit card fees and interest rates mount. In March of 2018, the U.S. Federal Reserve announced an increase in the federal funds interest rate from 1.5 percent to 1.75...
Most people have a passing knowledge of bankruptcy, but when you are considering it as an option for your financial future, you need to know all the details. It can be overwhelming at first to research this information. If you want to find debt relief and reclaim your...
When a Virginia resident passes away, his or her assets will be distributed to other parties. A Will can ensure that those assets are distributed in accordance to the deceased's wishes. However, simply having a Will doesn't mean that an estate plan is...
