Some of the most basic estate plans contain just a last will and testament. However, over half of Americans do not even have that. There are many reasons people put off estate planning, but most adults should at least have a will.
What can a will do?
Frequently I get the question, when should I file my bankruptcy petition? Sometimes that is an easy question at other times it requires a little more thought.
Once an individual or couple realize that bankruptcy is the only option to deal with their financial situation, they must then decide whether to choose Chapter 7 or Chapter 13. For most people, Chapter 7 is the preferred alternative. A Chapter 7 can generally be completed in roughly 4 months. By contrast a Chapter 13 normally will run a minimum of 36 months and could extend to 60 months. A Chapter 7 does not involve a payment plan and generally does not require the individual to surrender assets to trustee. By contrast, a Chapter 13 requires a regular payment to a trustee for the full term of the plan.
The Law Office of David Carl Hill
2472 Bethel Road SE
Suite A
Port Orchard,
WA
98366
Phone:
360-329-6223
Port Orchard Law Office Map
