Bankruptcy…. it’s time to think about it and talk about it.

Bankruptcy is another one of those hard topics that sometimes can’t be avoided. Times have steadily been improving, so all the media outlets tell us, at least some of the time, but things are still hard for a lot of people and bankruptcy may be the right option, depending on your circumstances.  

Bankruptcy is available to people seeking to get out from under debts that are no longer manageable, for any number of reasons, your own illness or that of someone close to you, loss or reduction of work, loss of partner or spouse, change in standard of living, or other personal problems.  There are many compelling reasons why bankruptcy may make the best sense in a particular time and place.  

There may also be alternatives available to you before you actually have to file for bankruptcy, a debt consolidation plan through a legitimate debt counseling service (beware there are many unscrupulous outfits offering this “service” out there), negotiation to reduced interest rates and more manageable balances, personal loans, sale of valuables to generate cash, and creating a realistic lifestyle budget, are some options to keep in mind.

If you decide that bankruptcy is the way you want to go, or just want to learn more about it as a possibility, consider talking to an experienced bankruptcy lawyer to help you navigate the types of bankruptcies available to you, (Chapter 7, 11, 12 or 13), what exemptions you may be eligible for in California, and also evaluate what debts are actually dischargeable in bankruptcy. Debts like taxes, spousal or child support, student loans, wages you owe people,  damages for personal injury you’ve caused are not usually dischargeable, if ever.  So bankruptcy isn’t always an option depending on the type of debt you are facing.  There are a whole host of issues to talk to an expert about before you make any final decision or commit to a course of action.  Go with a recommendation from solid source—us--the Riverside Bar LRS, we have a panel of  seasoned bankruptcy attorneys for you to consult when you’re ready.   Call us 8:30 a.m. to 4:30 p.m. M-F at (951) 682-7520.  

Not just for the rich and famous but for almost everybody.

Estate planning isn’t just for the wealthy. People hear the words “estate planning” and may think they don’t have enough money to set up an estate plan. But that’s far from true, though it’s a common misconception. Estate planning doesn’t just encompass disposing of one’s millions but it actually deals with much more concrete and common issues as well, like who will be guardian of the children, who gets the house, the condo, the boat, the car, the family heirlooms,  who will take care of my dear companion pet, who will make my health care decisions for me if I am incapacitated…the list keeps going.  

Some of the goals of estate planning involve minimizing estate or gift tax liabilities and/or probate expenses, reducing conflict over the distribution of property among the beneficiaries (the people who inherit by law or by will designation, usually family and friends) and preparing long term care plans for when health may begin to fail or serious illness strikes without warning.  

An estate planning attorney can help you take stock of all that you have, educate you as to who will inherit by law if there is no estate plan in place, help you organize how you want things to be distributed among your loved ones, setup a trust for a minor child, a person with special needs or even to ensure the long term care of a beloved pet.  

An estate planning attorney can also help you consider how best to arrange for long term health care, discuss assisted living options when the time comes, review power of attorney pros and cons, advanced health care directives, all manner of future planning.  These are hard topics to think about, let alone tackle on your own.  

 When you are ready to think about arranging your future and getting a sense of what may need to be done to take care of yourself and your loved ones, call the Riverside LRS. We’ll be happy to put you in touch with an experienced elder law attorney to help get the ball rolling, so you can stop worrying about your future. Call us 8:30 a.m. to 4:30 p.m. M-F at (951) 682-7520. 

What kind of results are you looking for?

We’ve blogged in the past about asking your attorney about experience and expertise. But it’s also important when meeting with an attorney for the first time to discuss possible results and potential outcomes.  What do you want to see happen at the end of your case? Do you want it to just go away? Do you want to “win”? Do you want to crush or punish the other side? These questions and your answers and the attorney’s answers depend on the kind of problem you’re dealing with, on the kind of case you have.

If it’s a family law case, crushing the other side may not be ideal in the long term, and it may not even be possible or realistic. In an accident case, it’s less about winning, and more about making sure you are compensated for any damages you have suffered, any out of pocket expenses, any work related losses. In a criminal case, it’s about making the best decision you can in your circumstances. That could mean taking a plea deal, going to trial, or maybe even testifying against someone else. It will all depend on the situation you are facing. What’s most important is that you develop a good, working relationship with the person you hire to be your attorney.

Ideally, you need to feel that you’ve hired a competent, skillful advocate, that you trust that person to guide you appropriately through your legal problem and that you’re both on the same page about your ultimate goal(s). The way to get there is to talk with your attorney frankly, prepare a list of questions before your consultation appointment. Go slow and ask about the case itself, the attorney’s qualifications, their approach to practice, your goals and money, of course, how much it will cost, how will it be paid, but that’s a post for another day.