Top Bankruptcy Attorney Tony Thompson, founding partner at Thompson Law in Los Angeles, CA, unveils options currently available to wipe debt clean during COVID-19. For more information please visit https://lawtl.com

Los Angeles, CA, United States – July 28, 2020 /MM-REB/ —

In a recent interview, Bankruptcy Attorney Tony Thompson, founding partner at Thompson Law in Los Angeles, CA, unveiled options currently available to wipe debt clean during COVID-19.

For more information please visit https://lawtl.com

When asked for a comment, Thompson said, “The dip in the economy due to the onset of COVID-19 has brought about financial hardship for millions of Americans. Anyone on the verge of bankruptcy before the pandemic is in an even tougher spot now, leaving many to wonder how they can clear their debt and start over.”

The most important thing for the American public to be aware of, according to Thompson, is that bankruptcy courts will continue to operate during this time.

When asked to elaborate, he said, “While bankruptcy courts are physically closed to the public, they will continue working and taking on new cases remotely. As much of the country is now handling business electronically, the courts have also followed suit in the state of California. So, for instance, California residents can work with their lawyers to submit bankruptcy petitions electronically.”

“Because California bankruptcy courts are trying to conduct as much business as possible over the telephone, you might experience a delay in your case, particularly if you’ve just filed,” he commented.

Thompson added that anyone who filed before COVID-19 should keep a close eye on the progression of their case.

“Make sure you’re up-to-date in case any meetings are postponed. All 341 meetings and confirmations of Chapter 13 bankruptcies will occur via telephone. There are other deadlines in your case that should be on top of, including submitting proof of bankruptcy education, filing fees, and other paperwork. Failing to meet these deadlines could postpone your case even further,” he said.

Many Americans are curious whether or not the CARES Act package, which was passed recently by Congress, will affect their ability to file for bankruptcy.

“Some might be able to receive relief benefits from the CARES Act at this time. Even if you receive payment, then that amount will not be calculated as part of your income, no matter if you’re filing for Chapter 7 or Chapter 13 bankruptcy,” he said.

During COVID-19, Thompson added that automatic stays will continue to function normally after someone files for bankruptcy.

When asked to explain further, Thompson said, “An automatic stay means that creditors can’t hassle you to collect on any unpaid debt. The automatic stay will remain the same, which often provides much-needed relief to anyone who has creditors or collecting agencies chasing after them.”

Source: http://RecommendedExperts.biz

Contact Info:
Name: Tony Thompson
Email: Send Email
Organization: Thompson Law
Address: 1055 W. 7TH STREET 33RD FLOOR LOS ANGELES, CA 90017
Phone: 213-221-4030
Website: https://lawtl.com

Source: MM-REB

Release ID: 88969647

Criminal defense attorney Jerry H. Summers, founding partner of Summers, Rufolo & Rodgers in Chattanooga, TN, outlines strategic approaches he considers to get criminal charges dismissed. For more information please visit https://www.summersfirm.com

Chattanooga, TN, United States – July 28, 2020 /MM-REB/ —

In a recent interview, leading criminal defense attorney Jerry H. Summers, founding partner of Summers, Rufolo & Rodgers in Chattanooga, TN, revealed 3 strategic approaches he regularly considers on behalf of his clients in an effort to get their criminal charges dismissed.

For more information please visit https://www.summersfirm.com

When asked to comment, Summers said that there are three things he tries to be on the lookout for in his clients’ cases.

One criminal defense strategy used by Summers to get criminal charges dropped is by proving the client was subjected to an illegal stop or search.

“Randomly stopping a driver in a car for arbitrary reasons such as the driver’s race is both illegal and unconstitutional. Similarly, police can only search a person or car if they have consent, a search warrant, are making an arrest, or in certain other situations in which they believe a crime has been committed,” he said.

If an attorney can prove the search was conducted illegally, Summers said, then the evidence cannot be used against the defendant.

“If this were to happen, then I would request that the case be dismissed upon the exclusion of that evidence, as the prosecution would not be left with sufficient evidence to continue to press charges against my client,” he said.

Another way that Summers strategically approaches each case is by looking at the probable cause asserted by law enforcement as their basis to arrest the client.

When asked to explain more about probable cause, he said, “Police must have a reasonable belief or probable cause to arrest someone for a crime. This probable cause needs to be based on factual circumstances.”

According to Summers, many people get arrested and charged with a crime without this critical probable cause.

“In cases like this, if the defense attorney can prove that law enforcement made the arrest without probable cause, then the charges are likely to get dismissed,” he added.

Lost evidence is the third way in which charges against a defendant could be dropped or dismissed and which Summers considers when evaluating a case.

“It’s often helpful to examine police procedures when sifting through the facts of the case. Poking holes in how the police collected evidence or gathered witness information can call into question whether there is enough of a case to charge the defendant with a crime based upon reliable, admissible evidence,” he said.

According to Summers, seasoned criminal defense attorneys know how to look at a case and approach it aggressively, so as to work to get the charges dismissed on the basis of these and other legal or factual grounds.

“There may be additional grounds for dismissal beyond the three ways I just mentioned. If you’ve been charged with a crime, then make sure to contact an attorney immediately so they can evaluate your case,” he added.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Jerry H. Summers
Email: Send Email
Organization: Summers, Rufolo & Rodgers
Address: 735 Broad Street, Suite 800 Chattanooga, TN 37402-2913
Phone: 423-933-2738
Website: https://www.summersfirm.com

Source: MM-REB

Release ID: 88970230

Live on Kickstarter, The Time Capsule is a new age and stylish way to store watches and jewelry.

Melbourne, Australia – July 28, 2020 /MarketersMedia/ —

The Time Capsule, the all new luxurious and stylish way to store watches and jewelry from Marbus Carpar, is live on global crowdfunding platform Kickstarter and raising funds to bring the project to life.

In today’s world, watches have become more than just a way to tell time— they are now more than ever worn as a fashion accessory. As legacy watch companies continue to grow and new brands emerge everyday around the world, it stands to reason that a wearer should have an equally stylish storage solution to match their showcase timepieces.

“The origins of Marbus Carpar can be traced back to late 2017 when one of our founders brought to the groups attention to how prevalent watches had become in day to day life and how much the industry in general was excelling around this point in time,” says co-founder Matthew Marshall on the inspiration behind the project. “This is what initially prompted us to do some research into where everyone, ourselves included, were actually storing their watches and what options were currently on the market. Not going to lie, we were disappointed in our findings, as we found most watch boxes available were typically large, impractical and unappealing. However this also had us feeling inspired, as we saw the chance to fill this gap in the market.”

The Time Capsule is the result of years of prototyping to ensure a stylish storage system that helps keep wearers organized and jewelry safely stored, while also retaining a luxurious look and feel. The result is a vertical stemmed storage system made of a genuine marble base, lined with store quality watch pillows and a perspex cover to protect jewelry from dust and other elements. The Time Capsule is available in a soft touch finish with either a black or white marble base to match.

“In this modern era watches in particular have a new primary use which has seen them become more of a fashion statement rather than just a single purpose functional accessory for interpreting the time as they once were. There is no reason that the way in which we store these items shouldn’t be thought of in the same way, the days of a bulky space invasive watch box sitting on a bedside table need to be left behind and replaced with a sleek, modern and convenient watch and jewelry storage option that can also double up as a feature piece in any room, the ‘time capsule’ encapsulates this concept,” adds Marshall.

The Time Capsule is currently live and available to support on Kickstarter: www.kickstarter.com/projects/marbuscarpar/the-time-capsule

About Marbus Carpar

We are MARBUS CARPAR. Founded in Melbourne, Australia. Our origins can be traced back to 2017 when our four founders identified a common interest in watches, it soon became evident that there was no practical, space-savvy or aesthetically pleasing storage solutions for our timepieces on the market, ever since that realisation we have been on a mission to create a solution that covers off all of the aforementioned.

For more information on Marbus Carpar please visit: www.marbuscarpar.com

###

Contact Info:
Name: Chris Woods
Email: Send Email
Organization: Marbus Carpar
Website: https://www.marbuscarpar.com

Source URL: https://marketersmedia.com/the-time-capsule-is-a-luxurious-new-stylish-way-to-store-watches-and-jewelry-at-home/88970321

Source: MarketersMedia

Release ID: 88970321

A leading technology company founded by Jeff Rubenstein, GovSpend helps corporations sell to the government.

DEERFIELD BEACH, FL – July 28, 2020 /MarketersMedia/ —

After the financial crisis of 2008, the US market entered into a boom phase that ultimately became the best and longest bull run since World War II. However, periods of robust growth and economic prosperity are inevitably followed by a downturn as ups and downs constitute a natural part of the business cycle. “Over the past two years, many analysts have been warning businesses and consumers to prepare for a recession. Typically, making an accurate prediction on this matter is a futile exercise unless some particularly disruptive event occurs, a prime example being the current pandemic,” says GovSpend, a leading technology company that has built the most comprehensive database on government spending. “As the public health crisis causes the US economy to slow dramatically and severely curtails access to international markets, American enterprises are in desperate need of sales opportunities to remain solvent. Doing business with the 90,000 US governmental agencies (federal, state, and local) is among the few viable routes for companies to pursue. Since the early cases of the virus were reported in the United States, GovSpend, which helps corporations sell to the government, has experienced dramatic growth.”

Unlike traditional buyers, a government cannot stop spending even during a recession because it has a responsibility to ensure the continued delivery of services to its constituents. US government agencies will be among the few organizations that will actually be spending more money in the months ahead, GovSpend notes. The administration has already authorized over $2 trillion in additional federal spending – an amount that does even include the additional state and local relief packages. With a recession looming, companies can dramatically improve their fighting chances if they secure customers in the public sector. GovSpend offers three resources that can immediately assist firms in winning government business and not only weather the current storm but uncover opportunities for future growth.

The platform developed by GovSpend houses a massive database of government purchase orders, revealing what agencies are buying, from whom, and at what price. The company also offers GovQuote, which is a free resource where government agencies post requests for quotations (RFQs), and it has proved immensely helpful, allowing enterprises to win government business within mere hours. Another invaluable tool is GovSales University – an online set of classes educating companies on how to sell to the government. This powerful collection of resources provides commercial organizations with all of the information they need to win business from the government. One recent example demonstrates the advantages of diversifying into the public sector: an agency posted an RFQ for 174 laptop computers and awarded a $154,000+ contract within just 48 hours.

Founded and led by veteran business executive Jeff Rubenstein, GovSpend is a software-as-a-service (SaaS) solutions provider that has achieved national recognition for building a unique database. Its proprietary platform aggregates purchasing data directly from local, state, and federal government agencies, offering vendors and buyers powerful search, analytics, and reporting capabilities. GovSpend has made it its mission to maximize the efficiency of the purchasing process in the government marketplace, enabling all parties to derive tremendous benefits by identifying the most attractive propositions.

GovSpend – The Leading Provider of Procurement Intelligence Software: http://GovSpendNews.com

GovSpend – Home – Facebook: https://www.facebook.com/GovSpend.us/

GovSpend (@GovSpend_) – Twitter: https://twitter.com/GovSpend_

Contact Info:
Name: Kelly Dobert
Email: Send Email
Organization: GovSpend
Phone: 561-609-6128
Website: http://govspend.com

Video URL: https://www.youtube.com/watch?v=aM09KA04_Mo

Source URL: https://marketersmedia.com/govspend-helps-companies-to-recession-proof-their-business/88970296

Source: MarketersMedia

Release ID: 88970296

Leading criminal defense attorney Kristin Paulding, founding partner at 7 Cities Law in Virginia Beach, VA, outlines how to get the best outcome when accused of family violence. For more information please visit https://7citieslaw.com

Virginia Beach, VA, United States – July 28, 2020 /MM-REB/ —

In a recent interview, criminal defense attorney Kristin Paulding, founding partner at 7 Cities Law in Virginia Beach, VA, revealed how to get the best outcome when accused of family violence.

For more information please visit https://7citieslaw.com

When asked to comment, Paulding said, “Increasing rates of domestic violence throughout the country means a rise in accusations of family violence. Being accused of a serious crime does not have to end poorly, and there are things you can do to mitigate the fallout.”

One of the most important ways to increase the chance of a successful outcome of a domestic violence accusation is to hire an experienced criminal defense attorney.

“There are several reasons why someone might choose to self-represent – but don’t. A criminal defense attorney who has tried hundreds of cases will have the resources to craft a strong defense through an independent investigation and by anticipating the prosecution’s arguments,” she said.

Paulding went on to say, “Allowing a defense attorney to act as your representative in dealing with law enforcement is critical to protecting yourself, and getting the best results in your case.”

“The statements you make can, and will be used against you in court. You can tell law enforcement your first and last name, and your basic identifiers (Social Security Number, Date of Birth), but allow your lawyer to be your representative and to speak on your behalf for everything else. After hiring a lawyer, any decision made regarding your case must first pass through your legal counsel,” Paulding added.

When accused of a serious offense such as domestic violence, the best thing to do is take immediate action.

“Time is crucial in criminal cases. The sooner you contact an experienced attorney after being accused, the better chance you have for a favorable outcome. Not taking quick action will allow prosecutors more time to build a strong case against you, and could allow law enforcement to continue to fail to take into account your own side of the story, as delivered to them through your attorney whose words can never be used against you,” she said.

Hiring a seasoned defense lawyer will also help the case move along more quickly.

Paulding added, “Criminal defense attorneys with years of experience in the courtroom are knowledgeable about the process, and will be able to pursue the best course of action on your behalf without needless and often damaging delays in resolving your case.”

Source: http://RecommendedExperts.biz

Contact Info:
Name: Kristin Paulding
Email: Send Email
Organization: 7 Cities Law
Address: Building 4, #423, 291 Independence Blvd, Virginia Beach, VA 23462
Phone: 757-716-7494
Website: https://7citieslaw.com

Source: MM-REB

Release ID: 88970329

Leading CPA & Accountant Thomas McAlister, founder of Thomas J. McAlister P.C in Denver, CO, outlines the common accounting mistakes made by small business owners. For more information please visit http://thomasjmcalister.com

Denver, CO, United States – July 28, 2020 /MM-REB/ —

In a recent interview, leading CPA Thomas McAlister, founder of Thomas J. McAlister P.C in Denver, CO, revealed 4 common accounting mistakes made by small business owners.

For more information please visit http://thomasjmcalister.com

When asked to comment, McAlister said, “With new bookkeeping and accounting software on the market today, it’s become much easier to keep track of a company’s finances – but it’s also become easier to make mistakes. Here are some common missteps that could seriously harm the financial health of your business.”

One of the most widespread small business accounting errors is counting profits as cash flow.

“Let’s assume that you struck a $60,000 deal that will require two months of work to complete. To do the project, you’ll need $20,000. Now, it’s tempting to write this $40,000 profit as cash flow. However, an endless number of things could happen – there could be delays to the project, or you might need to increase your overhead costs.”

McAlister added any setbacks could seriously disrupt cash flow when it’s calculated this way, leading to further problems down the line.

Failing to have a robust bookkeeping and accounting system can also negatively affect the future of a business.

“It’s important to remember that the cornerstone to good accounting is keeping track of everything – no matter how small or large the expense or transaction. Good accounting practices allow you to understand how well your business has performed in a given period,” McAlister said.

He added that, as an indicator of success, a solid accounting system helps inform small business owners in setting targets and goals, such as expansion and growth plans.

Another widespread misstep among small business owners is not outsourcing their accounting needs.

When asked to elaborate, he said, “Many small business owners with a smaller revenue stream are tempted to handle all their bookkeeping and accounting needs in-house, because they don’t want to pay the expense of hiring an accountant.”

“While it’s true that hiring an accountant will be more expensive than doing it yourself, a seasoned accountant will be able to identify tax savings tailored to your business structure as well as accounting errors that could end up costing the company more in the long run,” he added.

Failure to reconcile bookkeeping balances with bank account statements is another common error made by small business owners.

“You’ll want to make sure at the end of each month that the balance on your books matches the balance in your bank account. Often, smaller transactions and expenses are left unaccounted for – but this could mean a big discrepancy by the end of the month.”

“Having a mismatch between the books and the bank can provide a distorted picture of your company’s financial health, and you’ll spend more time and energy trying to find and fix the errors,” he added.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Thomas Mcalister
Email: Send Email
Organization: Thomas J Mcalister P.C.
Address: 4704 N Harlan St #675, Denver, CO 80212, USA
Phone: 303-279-1450
Website: http://thomasjmcalister.com

Source: MM-REB

Release ID: 88970328

Top bankruptcy attorney Bryan Keenan, founding partner of Bryan P. Keenan & Associates in Pittsburgh, PA, outlines whether or not filing for bankruptcy will affect one’s non-filing spouse. For more information please visit https://bryankeenanattorney.com

Pittsburgh, PA, United States – July 28, 2020 /MM-REB/ —

In a recent interview, top bankruptcy attorney Bryan Keenan, founding partner of Bryan P. Keenan & Associates in Pittsburgh, PA, revealed whether or not filing for bankruptcy will affect one’s non-filing spouse.

For more information please visit https://bryankeenanattorney.com

When asked for a comment, he said, “You are not required to file for joint bankruptcy with your spouse – you can go at it alone and file for individual bankruptcy. However, this raises a lot of questions about the potential effects on a non-filing spouse.”

When declaring individual bankruptcy, the filer is cleared of personal liability for any debts discharged. If you do not have any joint debt with your spouse, then the non-filing spouse’s credit will not be impacted. Each spouse is a separate and distinct legal entity with their own individual credit report.

When declaring individual bankruptcy, the filer is also cleared of personal liability for any joint debts discharged. The non-filing spouse shall remain solely responsible to pay on the debt. If the account is and remains in good standing, then the non-filing spouse’s credit will not be impacted.

If a married couple is struggling with debt it generally makes sense for the couple to file a joint case. However, this is not always the case.”

“If you’re in debt and have concerns about the potential repercussions on your spouse in your particular case after filing for bankruptcy, then make sure to get in touch with a seasoned bankruptcy attorney who can walk you through the process,” Keenan added.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Bryan Keenan
Email: Send Email
Organization: Bryan P. Keenan & Associates
Address: 993 Greentree Rd #101, Pittsburgh, PA 15220, USA
Phone: 412-922-5116
Website: https://bryankeenanattorney.com

Source: MM-REB

Release ID: 88970326

Leading Estate Planning And Elder Law Attorney Michele Ungvarsky, founding partner of E-Law in Las Cruces, NM, outlines the most common pitfalls to avoid while drafting a will. For more information please visit https://www.estradalawpc.com

Las Cruces, NM, United States – July 28, 2020 /MM-REB/ —

In a recent interview, Michele Ungvarsky, founding partner of E-Law in Las Cruces, NM, revealed the most common pitfalls to avoid while drafting a will.

For more information please visit https://www.estradalawpc.com

When asked to comment, Ungvarsky said, “If you’re in the early stages of beginning the estate planning process, then drafting a will is one of the first things you’ll want to consider. It’s important to properly create a will to avoid potential problems down the line.”

One prevalent mistake that people make after devising a will is forgetting to sign it.

“The state of New Mexico requires that the person making the will sign it, as well as two witnesses, both of whom must sign it in your presence and each other. Failing to do this means that the will might be invalidated in probate and your wishes might not be carried out.” All signatures must be notarized, thus you will need a notary present at the same time.

Setting up a will and forgetting about it is another commonplace error.

“A will could be seen as a living document. After establishing a will, it’s important to make a plan to continually review and update it in case anything changes. Let’s say that, over the course of time, you’ve sold off assets – or even acquired new assets – yet those assets are not included in the will. You’ll want to ensure that your will is up-to-date and accurately reflects the situation of your current estate,” she added.

Another significant error that many people make is including assets or property that already have beneficiary designations.

When asked to elaborate, Ungvarsky said, “When it comes to deciding what to put in a will, you should only include property and assets that belong only to you – in other words, assets that are not jointly owned. Furthermore, you shouldn’t include assets or property with designated beneficiaries such as ‘payable-on-death or ‘transfer-on-death.’ Any conditions you set out for assets that already have designations or are jointly-owned will be invalidated and can lead to fights.”

Underestimating the importance of retaining an attorney in drafting a will is another common misstep made by many.

“A lot of people seem to believe that putting a will together is an easy process; however, oftentimes, a lot of factors that need to be considered can easily be overlooked without the help of a professional. Wills aren’t only about how to distribute assets but also cover funeral arrangements or caring for underage children in the future. A will should also have contingent plans built in to take care of the possible death or disability of a beneficiary. Ultimately, addressing these issues and cementing these plans in a will can make your loved one’s lives easier,” she said.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Michele Ungvarsky
Email: Send Email
Organization: E-Law, PC
Address: 1340 Picacho Hills Dr, Las Cruces, NM 88007, USA
Phone: 575-556-2462
Website: https://www.estradalawpc.com

Source: MM-REB

Release ID: 88969636

Leading Estate Planning Attorney Fred Haiman, partner at Haiman Hogue, PLLC in Frisco, TX, outlines the top misconceptions about nursing homes and assets. For more information please visit https://www.haimanhogue.

Frisco, TX, United States – July 28, 2020 /MM-REB/ —

In a recent interview, Fred Haiman, partner at Haiman Hogue, PLLC in Frisco, TX, revealed 5 big misconceptions about nursing homes and assets.

For more information please visit https://www.haimanhogue.com

When asked to comment, Haiman said, “Unfortunately, many people – young and old alike – are unaware of what happens with assets when they or a loved one moves into a nursing home. These mistruths can derail asset management. Here are some avoidable misconceptions to keep you and your family on track.” One of the most common myths is that people assume they won’t end up in a nursing home.

“These days, more and more of society’s elderly are spending time in nursing homes. In fact, according to the New England Journal of Medicine, 43% of people aged 65 will be in nursing homes, and more than half of these people stay in nursing homes for more than a year,” he said.

Haiman was quick to add, “In other words, if you are part of the elderly population, then you have a one-in-four chance of living in a nursing home for at least a year.”

Many people also mistakenly think that they will lose their home after going into a nursing home.

“As long as your home is properly used and titled, then it’ll be an exempt asset while you’re residing at a nursing home. If there are problems with the titling of your home, for instance, then it could be used for nursing home-related expenses.” he said.

“There are also other assets that are exempt from being used for nursing home costs, including one vehicle, certain life insurance policies, as well as pre-paid funeral arrangements.”

Another widespread misconception is that assets will be shielded if they are placed in joint names with their children. “You will still be considered the owner of assets that have been put in joint names – even if this was done a long time ago. Be careful of this as creating certain joint assets could lead to divestments, which could then render you ineligible from getting Medicaid benefits for a time.”

Many make the incorrect assumption that they can’t transfer assets unless they transferred them more than five years before entering a nursing home.

When asked to elaborate, Haiman said, “It’s true a five-year rule applicable to transferring assets exists – however, this has to do with the date in which someone applies for Medicaid, not when entering a nursing home.”

“The exact question on the Medicaid form is ‘Have you transferred any assets to an individual in the last five years?’ If so, then that individual will not be eligible for Medicaid for a certain period of time, which can be more or less than five years,” he added.

Following this, many seniors are under the impression that they won’t be able to transfer assets after moving into a nursing home.

“You’ll be penalized by being denied Medicare benefits for transferring assets after moving into a nursing home. However, this penalty is calculated in months, not in dollars. To calculate how long you’ll be ineligible for Medicaid after a transfer, divide the amount of the transfer by the State Divisor Rate.”

Haiman concluded, “With this important reminder, you can see, this process can be very confusing and extremely difficult to understand. It is not something that you should try to take on by yourself. Consulting with an experienced Elder Law attorney is an absolute must. Hiring a professional will not only save you money in the long run, but more importantly, it will take away an enormous amount of stress and anxiety.”

Source: http://RecommendedExperts.biz

Contact Info:
Name: Fred Haiman
Email: Send Email
Organization: Haiman Hogue, PLLC
Address: 2595 Dallas Parkway, Ste. 100, Frisco, Texas 75034
Phone: 469- 893-5337
Website: https://www.haimanhogue.com

Source: MM-REB

Release ID: 88969640

Top estate planning attorney Guy B. Garner, III, Senior Attorney at Haiman Hogue in Arlington, TX, details the top things you can do to avoid probate. For more information please visit https://www.haimanhogue.com

Arlington, TX, United States – July 28, 2020 /MM-REB/ —

In a recent interview, leading estate planning attorney Guy B. Garner, III, Senior Attorney at Haiman Hogue in Arlington, TX, revealed 3 things you can do to avoid probate.

For more information please visit https://www.haimanhogue.com

When asked for a comment, Garner said, “When planning for your estate, probate court proceedings are one major thing that you’d want to avoid. Probate proceedings can be long and costly, which will ultimately place undue stress on your loved ones.
Here are 3 things you can do that will help you steer clear of probate.”

Living trusts are a foolproof way of preventing probate court proceedings.

When asked to elaborate, Garner said, “When it comes to avoiding probate, using a living trust in the state of Texas is the way to go. These trusts will cover nearly any asset, including vehicles, bank accounts, and property. They’re like having a Living Lockbox that holds your assets for you, and you hold the keys to the box. Since this box never dies, the assets in it aren’t subject to the legal probate process.”

“The process of creating a good living trust is not difficult, but should be done by an experienced estate planning attorney.
While you’re alive, you transfer the ownership of the property to the trust and you are the trustee (or manager) of that trust. You assign someone to be the successor trustee after you pass away and then they hold the keys to the Lockbox after you’re gone. They then manage the trust the way you’ve outlined within the trust for them to do so. “

Garner continued by saying, “After you die, the successor trustee will be in charge of whom the assets get passed onto without having to go through the court system.”

“Another fail-safe way of avoiding probate is through joint ownership. This form of ownership is only recommended for married couples because you will become legally responsible for the other person’s mistakes. So for instance, if the other joint owner gets sued, files bankruptcy or goes through a divorce, the legal system will consider a portion of that asset available to pay the debt of the joint owner who has the legal problem. This happens more often than you would believe,” he said.

Garner added, “A much safer way to pass on assets or real estate to people other than your spouse is by completing pay on death beneficiary forms or Transfer on Death Deeds. These forms do not convey any ownership interest until the primary owner dies and the beneficiary presents a death certificate. Another advantage of these forms is that you can revoke them if you decide to change the beneficiary”.

“While this varies by state, Texas uses an ownership type called Tenants-in-Common. Tenants-in-Common DOES NOT allow for assets and property to be automatically passed on to the surviving owners. Therefore, if a husband and wife own their home as Tenants-in-Common, the surviving spouse has to go through the probate system to transfer the deceased spouse’s half over to him or her. This is why living trusts make so much sense in Texas.” Garner explained.

For bank accounts, residents can use pay-on-death designations to work around probate.

When asked to explain, Garner said, “You can get pay-on-death designations for certain accounts such as checking, savings or certificates of deposit. The forms are available from the financial institution that holds your accounts. The designation doesn’t mean that the other person is in control of your money, rather they can retrieve the money from the bank upon your death.”

“Of course, this process is direct and doesn’t require engaging in probate court proceedings,” he added.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Guy B. Garner
Email: Send Email
Organization: Haiman Hogue, PLLC.
Address: 690 E Lamar Blvd #115, Arlington, TX 76011
Phone: 817-261-5222
Website: https://www.haimanhogue.com

Source: MM-REB

Release ID: 88969642