Bankruptcy and Credit Scores
Bankruptcy stays on your credit report for a period, but it doesn’t mean the end of your financial health. With careful planning and responsible financial behavior, you can rebuild your credit over time.
When Your Homestead Equity Increases While in Chapter 7
Your homestead is exempt when you file Chapter 7 unless it appreciates above the homestead amount while the case is open. If this happens, you could lose it unless you file the appropriate pleading.
How to Discharge Student Loans in Bankruptcy
Bankruptcy discharges most unsecured debt. Student loans are not dischargeable, unless you file a lawsuit in the bankruptcy and prove that the debt is causing an undue burden. This may have gotten a little easier based on new guidance.
Arizona Exemptions and Proposition 209
Proposition 209 was an Arizona initiative that was overwhelmingly passed by the voters. Although it increased the Arizona exemptions, it has caused confusion.
Living Trusts and Wills
A revocable living trust is frequently unnecessary for modest estates, but everyone should at least have a Last Will and Testament, a Healthcare Power of Attorney, and a Durable Financial Power of Attorney.