Bankruptcy can affect people from all walks of life. Even celebrities and politicians aren’t exempt from bankruptcy. Anyone can face financial troubles, and bankruptcy lawyers can provide guidance for a smooth process.
Archive for October, 2016
Valuable estates can easily become war zones. The desire for land, possessions, or other assets can quickly sever family ties. Estates are typically distributed per the wishes of the deceased. But not always. There are cases when a court determines legitimate grounds exist to question a will’s validity. These contests, however, can trigger the beginning of a never-ending, bitter family feud. They are costly legal actions that take years to resolve. Three common grounds used to contest a will, include:
In April 2016, the debt limits for Chapter 13 bankruptcy increased for people filing after that date. A bankruptcy attorney can explain qualification requirements and other restrictions that impact Chapter 13 bankruptcy filers.
Property that is not settled with a will or trust must either pass automatically to the heirs or be devised through probate. Probate is a legal process through which a will is accepted (or “probated”), or assets are devised to beneficiaries. Probate allows potential beneficiaries to submit claims to a person’s estate.
Wills that are not contested avoid probate; the estate administrator need only file a copy with the court as a public record.