Many people who are named as personal representative (often known as “executor”) of a loved one or close friend’s estate don’t anticipate just how complicated it can be. Even relatively small estates can present complications – particularly if the deceased’s estate...
As an estate’s executor, one of your duties is communicating with beneficiaries. Acting in the best interest of the estate, as your fiduciary role requires, involves being transparent with beneficiaries. When you fail to communicate effectively, they can file a...
Perhaps you felt up to the task when asked by your loved one to act as the executor for your parent, sibling or spouse. But when you actually take on the duties of the job, you may find yourself too mired in grief to complete the necessary tasks. Accepting the role of...
Filing for bankruptcy is a major decision in your life, but it is one that can come with great financial freedom. Consumers often file either a Chapter 7 or a Chapter 13 bankruptcy. While both of these can provide a fresh financial start, Chapter 7 is generally...
Chapter 7 bankruptcy is available for both businesses and individuals. When individuals or married couples pursue relief through Chapter 7 bankruptcy, they must first prove that they qualify. Chapter 7 bankruptcy, also known as liquidation bankruptcy, is a relatively...
Healthcare debt is one of the most common reasons people explore Chapter 13 bankruptcy. Unlike consumer spending, these bills usually follow emergencies, chronic conditions or necessary treatment. They appear suddenly and grow quickly, leaving no time to modify...
Facing financial difficulties can be stressful, whether it’s in your personal life or through a business. As such, many people may wonder, “Is personal bankruptcy and business bankruptcy the same?” While both aim to handle debts, they operate differently and follow...
As a general rule, an estate plan helps govern what happens to specific assets when someone passes away. If a parent has a bank account with a certain amount of funds in it, for example, they could use their estate plan to mandate that the funds be split equally...
Losing a loved one is one of life’s hardest moments. You find out that you are their assigned personal representative, which can be overwhelming while you are still grieving. As the executor, you worry whether you can uphold your fiduciary duty to manage your loved...
Chapter 13 bankruptcy can offer a structured approach to managing debts while keeping certain assets. If you are exploring this option in Indiana, learning how repayment plans typically work can help you understand what to expect. How does the chapter 13 process...
