Arizona Bankruptcy Procedure

Individuals and businesses in the United States must follow bankruptcy procedures in order to avoid facing legal complaints. Although most states in the U.S have more or less similar procedures, there are actually variations. This is a reason why it is important to read Arizona Bankruptcy Newsletters in order to be properly informed. There are different issues discussed on their February edition which you need to read.

Before one doubts the variation of Arizona’s bankruptcy process, here are two examples:

• Submission of one’s petition in accordance with the federal bankruptcy law can only be filed in the local Arizona bankruptcy court.

• In order to qualify for bankruptcy, income data will be used. But data specific for Arizona will be the only thing one can use as a resident of this state.

As bankruptcy processes in Arizona can be different, here is a list of things you need to remember:

• Filing for a bankruptcy in Arizona requires the timeline and process to follow federal procedures.

• A petition can only be submitted once a credit counseling course is attended.

• After completing the petition, the appropriate filing fee must be paid. Then, everything will be ready to be submitted to the proper Arizona court.

• After a month, appearance before your bankruptcy trustee is required to review your petition. This is what they call as the “Section 341 Meeting”. This meeting can also be attended by creditors.

• A discharge of 60 days will then be granted if there are no objections present during the Section 341 meeting.

• People filing for a Chapter 13 bankruptcy case must not fail to forget that a payment plan must be submitted for court approval.

This the process one must face whenever the decision to file for an Arizona bankruptcy is present. In this case, it may be an important reminder for everyone to know that Arizona only has one bankruptcy district. But Phoenix, Prescott, and Yuma have separate courthouses. In order to know where to file your Arizona Bankruptcy, check the district’s bankruptcy website.

Steve Anderson is one of the lawyers of Pew Law Center. Arizona Bankruptcy Lawyer  help people get the protection and debt relief they need under federal bankruptcy law.

Asset Protection Trust & Estate Planning

You have worked your entire life accumulating assets. These hard earned achievements can be lost in a short period of time if they are not protected. If you are sued, all of your assets are at risk. They are also at risk if you file for bankruptcy. Seeing as the best thing to do is to protect those assets, lawmakers have passed various acts that will protect certain assets.

Regardless of what you read in asset protection blogs, many people believe only the wealthy are targets. This is far from the truth. No matter how many assets you have, whether your IRA & retirement plan investing account is $ 10M or $ 200,000, you are a target as long as you own those assets in your name. There are many legal circumstances that can place your assets at risk. Civil lawsuits and divorce can be perfect examples of where people lose their unprotected assets. No matter how safe you think you are from being sued, it is almost always best to take extra precaution. This is why asset protection is so important. It will help you safeguard those assets if there ever is a time where a lawsuit is filed on you.

There are various state and federal laws that determine what type of protection many of your assets can have from judgments and creditors. For example, your Traditional and Roth IRAs have a protection cap of $ 1 million from any bankruptcy proceeding. Any money that has been rolled over from other retirement accounts, such as 403(b) and 457(b) plans, are completely protected by law. It is important to remember that this protection is only in effect during a bankruptcy proceeding. They will not be protected from other court judgments.

In addition to IRA accounts, qualified retirement plans are also protected by law during bankruptcy. ERISA plans are also protected, so an ERISA asset protection retirement plan is not needed if you are going into bankruptcy.

Consider your large assets, such as your home. The amount of protection on your home can vary depending on what state you reside in. There are some states that offer limited legal protection, while other states will not provide any protection at all. Again, this is why it is imperative that you have an asset protection plan in effect. If the state and federal laws do not offer protection, you will already have a plan in place that will protect all of your assets.

State laws will determine how much protection is given for life insurance and annuities. In some cases, the cash surrender value of the life insurance policy will be protected. However, this does not always happen. In other cases, the only protection is for the beneficiary’s interest. Again, there are many states that offer no asset protection at all. If you need to know what laws are in place to protect your assets, check with your state’s official website to find out what protection is offered.

Just because there are laws in place, this does not mean that you will be safe from creditors during a lawsuit. No matter what kind of protection is offered by your state, it is always best to consult with an expert on asset protection planning such as Estate Street Partners. This is the only way you will be sure that your assets are protected, regardless of the type of legal proceeding.

Too many people rely on just the protection offered by their state. This often leads to a disastrous outcome. These people usually end up losing most, if not all of their assets. There are many strategies that are effective when planning for asset protection. Proper planning can actually deter creditors from attacking your estate and may save you from your assets from being lost. Proper asset protection planning may even save you from a lawsuit being filed in the first place. What contingent lawyer will take a case if he cannot find assets in your name when he does an asset search? None.

Learn how to protect your assets from potential frivolous lawsuits, preserve your wealth by recapturing lost tax dollars, defer capital gains taxes, eliminate inheritance taxes, reduce taxes on your income streams, eliminate probate and estate taxes. You will receive tax efficient wealth transfers to your next generation. We will utilize means of domestic LLCs and international offshore tax haven strategies and customize our program to meet your highest yield expectations and more. Contact us today if you have any questions. Rocco Beatrice, CPA, MST, MBA, CWPP, CMMB, CAPP, BSBA
Asset Protection
Asset Protection: Estate Planning
Boston, MA: 71 Commercial Street #150 Boston, MA 02109
toll-free: 888-93ULTRA (888-938-5872) tel: +1.508.429.0011 fax: +1.508.429.3034

Men After Divorce

Divorce involves a lot of mental trauma apart from the obvious financial strains. Couples undergoing divorce require considerable support and understanding from their colleagues and their family. Most divorces cost thousands of dollars and take months to complete. A significant part of the costs involved in divorce proceedings is the fees to be paid to the divorce attorneys involved. There are many attorneys who specialize as divorce lawyers for men.

Typically, in any divorce case, the needs of the husbands are different from that of the wives. Husbands also have to deal with substantial financial strain apart from the attorney fees. Alimony is a major factor in divorce proceedings, from the point of view of the male partner. A fair calculation of the alimony amount is essential to protect the husband’s interests. It especially becomes complicated when the couple has children, due to the custody issues that have to be sorted out. To protect his rights, it is necessary that the male partner involved in a divorce engages a divorce lawyer who focuses on handling divorce cases for men.

ADAM or American Divorce Association for Men is an organization that deals with divorce issues faced by men. It ensures that the man knows his legal rights and various other facets of the separation such as child custody, child support and alimony – and what he is legally obliged to with each.

Divorce attorneys discuss the different legal options available, in detail, with their clients. They counsel them on the various options available to them during the divorce proceedings. It is important for men seeking divorce to get sound legal advice in order to secure their finances in the future. During a divorce, the family finances may be examined and divided by the court. Good divorce attorneys can provide advice on parenting plans after the divorce, keeping the best interests of the father and the children. They can also refer and recommend counselors and therapists, who can help the family get through the difficult times.


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Kodak Files Bankruptcy

The Eastman Kodak has just filed the US Bankruptcy Code, chapter-11 in order to reorganize its business. Most recently, it has charged many electronic giants like Samsung Electronics, HTC, and Apple for the patent rights violations.

The company reorganized its business structure earlier this month, as in the past November; it lowered its revenue outlook for 2011 to up US $ 6.4 billion, and its expected losses in 2011 in the range of $ 400 million to $ 600 million from continuing operations.  In a recent statement, where the Kodak’s officials said that its US subsidiaries filed voluntary requests for the chapter 11 in the US Bankruptcy Court for the Southern District of New York city.

Since July, after the company officials have been exploring new strategic options including sale for its digital imaging patent portfolios in order to take the advantage of increasing the demand for logical assets. It has around 1,100 US patents that are fundamental to digital imaging industry.

Eventually, Kodak is looking for to take an advantage of the frenzy to buy in the tech industry. The photography company made a statement that chapter 11 gave it the best chances to maximize the value into two crucial parts of its technology related portfolio, its digital capture patents, and the other one is its printing & deposition technologies.

It claims to have licensed its digital imaging patents rights to more than 30 companies, including LG electronics, Motorola, and Nokia as well. The digital capture patents are essential for a wide range of mobile and other consumer appliances that capture digital images.

Since 2003, Kodak has closed 13 manufacturing plants and 130 processing labs, and reduced its workforce by 47,000 employees as it exited from its traditional business operations to create digital business. It is expecting to complete its US based restructuring during the year 2013 and believing that it has enough liquidity to run its business operations during chapter 11, and to continue the flow of goods and services to its loyal customers in the ordinary course.

Explaining Your Bankruptcy

Hard times fall on many people, especially in a recession or bad economy. Filing for bankruptcy has been the saving grace for many of these financially frustrated individuals. While filing for bankruptcy can be a huge relief to those in debt, many people feel they don’t know how to explain their bankruptcy to family, creditors and employers. This concern can plague a person post-bankruptcy, when it doesn’t need to. There’s no need to be ashamed of your bankruptcy, and there are ways to be upfront and honest about what happened.

Creditors – Explaining a bankruptcy to a future creditor can be uncomfortable. They want to know you will pay back what you promised and you want them to trust you to do so. This is why honesty is always the best policy; honesty and trustworthiness tend to go hand in hand. The trick to proving yourself is to come prepared. Clean up your credit report by ensuring everything is correct and up-to-date. Make sure you have a steady income for 6 months with pay stubs, it helps show you are responsible and serious about applying for credit. Having a budget and pay plan readily available is another way to show your commitment to them. Most importantly, creditors like to have some kind of collateral. Supplying a 20% down payment shows creditors that you’re financially invested as well.

Employers – Many employers will run background and credit checks on their employees, especially if they have access to company funds. Again, with employers, honesty is always the best policy. Hearing your story and explanation is much more comforting than seeing it pop up on a report. The important thing to keep in mind is that you filed bankruptcy for your family and your future, and you’re being responsible in seeking employment and getting yourself back on track. If possible, work your story into the interview. It doesn’t need to be a “sob story,” you can explain how it empowered you and what you learned from the experience—how it will shape your future decision-making and planning.

Children – Explaining your bankruptcy to family members is tough, but how do you help children understand? First off, do not shut them out. While children may not always understand “adult issues,” they can tell when something is wrong. When explaining bankruptcy to your children, use simple terms. They can usually understand the concept of assets and debts. Don’t go into too much detail or else you can worry them. Let them ask questions, if they want to know more. Most importantly, let them know it’s not their fault and that everything will be ok.

Filing for bankruptcy gives you a chance to start over, it’s nothing to be ashamed of. If you’re considering filing for bankruptcy, please contact a Waco or Killeen bankruptcy lawyer to learn more about your options.

Jeff Davis is the Owner of the Davis law firm and a highly experienced Waco and Killeen bankruptcy attorney. To find out more information about a Waco or Killeen bankruptcy lawyer, please visit

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Estate Planning Lawyer : How They Help

Estate Planning Lawyers are those who assist others in creating the last will. Not only that, the estate planning lawyers also help to establish a trust in the event of death of an individual by protecting the assets of inheritance. When you are preparing a will, it is really important and necessary to take help from a probate law attorney as they will listen to your needs and preferences and will provide you with helpful advices so that you can develop strategies which will help you in estate planning accordingly and will benefit the selected beneficiaries.


An estate planning lawyer can assist those who need to create a will. For example, if you have a ailing parent or a relative, you can take help from the estate planning attorneys. Even though your family might not be super wealthy and might not have a mansion, the attorneys can help you and the individual making the will in so many ways. They can help an individual by looking at all kinds of assets you have, your house, your auto mobiles, your financial portfolios, life insurance policies and so forth.  According to the wish of the individual taking the service, the attorney can help the individual to disinherit one of the heirs by taking all kinds of strategies so that the certain asset or assets cannot be passed on to that certain person. Also, when individuals are mentioned in a will to inherit the assets, the attorneys work their best so that the mentioned individuals get what they have inherited through the will without much problem. However, when you are taking help from estate planning lawyers, make sure that you talk with them about everything. It is often seen then when the will creator passes away, chaos is born due to all the misunderstandings and stuffs. Therefore you should take precautionary steps even before the will is created and convey every detail to the lawyer and discuss about it thoroughly.


When the planning of estate is done in final stages, it should be initiated when the individual is in good health or the disinherited individuals might contest for their share of inheritance. If you really want to make sure that your final wishes are followed through and through, take help from lawyers who are well adept in planning of estates. It is because they will help you to ensure that your final wishes about who will inherit what will be followed as your wish when you pass away.


They can help you create your will without any mistake. Precision has to be maintained as one missing initial, name or a word that has been misconstrued can change the complete document of the inheritance of your estate. As the laws maintaining the passing of assets and estates are technical, you will have to take help from the lawyers who specialize in planning of estates. BE sure to check what you state requires as these laws vary from one state to another. One minuscule mistake can make the documents that you have created to be void and null and therefore you have to make thorough arrangements with your estate lawyer to make sure that everything is right.

For more details please visit our site to  estate planning  or  elder law attorney .

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The Complexities of Estate Planning

The subject of estate planning may not be something many people wish to think about. To invest time thinking about planning your estate essentially means you have to spend a little time thinking about your own mortality. After all, estate planning revolves around putting the proper system in place so your estate can be effectively managed when you have departed. While such a process can be a little morose on the surface, the fact remains this is something you will need to do to be sure your loved ones are not left in a difficult situation upon your passing.

As the name implies, estate planning requires you to examine the different components that must be integrated into proper and effective estate planning. These components include such responsibilities as drawing up a will, assigning power of attorney to a designated responsible party, and possibly even designating medical power of attorney. For some, it could prove best to have a trust designed should the circumstances warrant it.
Is there a major motivating factor behind instituting all these many varied responsibilities? Basically, they provide a sense of coherency to your survivors regarding what needs to be done with your estate. The most common example of this would be how a will can detail who will receive what distributions of any assets. A medical power of attorney directs a certain person to make medical decisions on behalf of an afflicted person who might otherwise be incapacitated.
In the absence of making such designations, family members would be left in a very difficult position of trying to navigate and address various issues surrounding the management of the estate. Worse yet, a responsible minded survivor may not even be legally be allowed to handle matters of the estate if they were not designated to do so by your prior to your death. And yes, there will need to be legal documents in place detailing such determinations.
Rather than set the stage for such a problematic outcome, it would be far better to properly plan out what will happen with the estate and who is directed which responsibilities long in advance. That is the essence of proper planning. Disputes and various resulting confusing issues may be appropriately eliminated via proper estate planning.
Effective estate planning is commonly handled by an accountant or an attorney. Keep one thing in mind when planning your estate, estate planning entails entails remaining in compliance with all applicable laws in your state. Different states have different laws and regulations. You need to be aware of those laws in order to ensure you are going about the planning in the appropriate manner. However, the average person is not aware of such things which is why it is best to hire those who can perform the proper professional duties.

Seeking out the counsel and help of such professionals is a must when you want to properly plan out how your estate is to be handled in the event of your passing. Doing so will certainly make things easier on your survivors and it will ensure your estate legitimately was planned out properly.For more information:

Impact of Divorce

A divorce is a decision in court that is for the purpose of terminating a marriage. The parties are able to marry again after the divorce is served. Obtaining a divorce is a very traumatic experience for both partners.

The falling apart of an intimate relationship is very stressful for the persons involved. When you are divorced, you carry a lot of different emotions. The shift from the normal routine of life and the expenses incurred can produce further stress. If there are kids involved, the trauma of the severance will burn out the parents making them negligent of the childrens needs. The new arrangements can cause a strain in the relationships. Even those parents living apart will have a schedule for visits, it is just not the same anymore. The children are most vulnerable in these cases. The sense of loss would be felt when some routine actions are not being performed anymore such as the telling of bedtime stories or packing the lunch box.

A lot of people liken the loss of an intimate relationship to dying. There are stages of acceptance in both instances, which are basically the same. These stages of acceptance do not necessarily mean that they happen in order. There are other people who would go in and out of the stages randomly or sometimes they even go back to a stage they have already been to. The stages last longer than usual for some people. This is because no two persons are the same. Some are more resilient while others are unyielding.

Denial is the most common stage. Even the plaintiff who is instigating the divorce still undergoes the denial stage. The full impact of the loss has not yet been felt here. Elation might be felt because of the freedom from the chains of bondage.

Anger is the most expected stage int he process of divorce. Even to the spouse who had been miserable during the marriage, anger is still present because of dreams not realized and needs not met. These feelings should be expressed and felt.

In most cases, guilt is present even to the spouse who doesnt feel responsible for the breakup. This is because the relationship was a failure. Parents may also blame themselves for their childrens “broken home.”

Grief sets in when the total blow of the loss is experienced. This is the most essential stage for the person to feel in order to reach the last one. It is important for them to express how they feel. They should learn to live with it and accept the break up.

Acceptance happens when the person acknowledges the finality of the divorce and that this episode was part of his life. They become empowered and are now ready to move on.

Divorce is a sticky messy situation for everyone. It is important to discuss the process with children and family members. Do not try to be secretive or cover it up. Talk honestly with your children and set out a clear financial budget so that everyone understands the financial shift that will be taking place.

Do you need a Tulsa divorce lawyer?  Visit us at Antinoro Law Firm, we have Claremore divorce lawyer who specialize in a wide variety of cases including divorce, criminal defense, personal injury, etc.

Importance of Estate planning and trusts

It’s a belief among a lot of people that estate planning and trusts is only for the wealthy, however this is not true. If you are one of those who have done well for yourself and saved money for your retirement and looking for a peaceful life ahead to live in your home or in any community, you are not alone in this process. Estate planning and trusts is the written legal agreement (contract) outlining a contractual obligation between the parties. There are a lot of things that are included in estate planning such as will, various trusts, powers of appointment, forms of property ownership, gifting, and power of attorney. The only goal of estate planning is to ensure that that the maximum quantity of estate passes to the estate owners or beneficiaries and the aim also involves paying fewer amounts of taxes and reducing the participation of the court. There are few other goals that involve preparation of the guardians of minors and incapacity.

All the innovations in the financial services are helping everyone to live a stronger and a healthier life like never before. But in order to avail all these services everyone need fiancés and everyone has to pay for it. There are a lot of services that elderly people need and medical and health insurance companies doesn’t pay for their needs. A lot of people quit their jobs in order to provide care to an elderly family member and a lot of old people refuses to move out of their old neighborhood and that is when trusts come in picture. They are one of the most important estate planning tools that can be used to address these concerns. With the help of these services, you can set up your own trust in order to make distribution based on various conditions that can help the beneficiary in the best possible way and lead them into right direction.

One of the most important processes in estate planning is that of a will, creating it is one of the main objectives. In cases, where you die interstate that means you don’t have a will, your state has the authority to dispose the property. According to the state’s scheme, blood relations will be used to determine as to who will get the assets of the property. There are chances that you may want to give your assets to a particular one who you know would love and cherish them but state scheme identifies people who would equally cherish it. There are chances that your assets may also pass to people who don’t like you or whom you don’t like on the other hand, they can also move to people who really care for you or took care for you. However, in cases where you have dependent children, it is advised to select guardians for them who can take of them in cases where something may happen to you or your spouse. Also, you need to make sure that you consult the other party ones before naming them as guardian.

To learn more about Estate planning and trusts , California living trusts, and more please visit our website

Riverside Bankruptcy Attorney

Chapter seven – The court appoints a trustee for a debtor who has filed a petition under this bankruptcy chapter. This solution is also termed ‘liquidation of assets’ as this trustee liquidates some of the debtor’s assets to pay out off the collectors. A debtor gets to maintain his exempt home, if any.

Chapter thirteen – This is the most popular type of bankruptcy case that most shoppers have a preference for. You can shield all household furnishing, appliances and apparel as long at they are normal and moderately necessary by you and your spouse and children.

Jewellery, heirlooms, and performs of art- You can protect up to $ 7,175 in the aggregate value of any jewelry, heirlooms or operates of art that you individual.

Instruments Made use of for Perform-You can defend up to $ 7175 in resources, instruments, furnishings, books, and a person commercial motor motor vehicle that are regarded as reasonably important for working out your trade or occupation and are really used to earn a living. Your spouse can also use up to $ 7175 in instruments, instruments, and products that are moderately needed for exercising their occupation and are used to earn a living.

Retirement Plans-Public retirement positive aspects and private retirement strategies are exempt such as IRA’s and profit sharing plans developed for retirement.

House Equity- The equity in the home had been your reside can be guarded up the following quantity:
If you are a single particular person with no one else residing in your property then you can protect up to $ 75,000 in equity in the property.
If you are married and your spouse resides with you then you can shield up to $ 100,000 in equity in your house.
If you treatment and keep any of the pursuing in your home then you can guard up to $ a hundred,000 in equity in your home (if they have no curiosity in the home):?

your minor child or grandchild or that of your partner, or the small youngster or grandchild or your deceased spouse or former partner,
small brother or sister of you or your partner, or minimal child of your deceased brother or sister of you or your husband or wife,
your or your spouse’s father, mom or grandparents, or the father, mother, or grandparents of a deceased spouse.
An unmarried relative who is described above and who is around the age of 18, but is unable to treatment or deliver assist by themselves.

If you or your husband or wife is 65 a long time or older then you can shield up to $ 175,000 in equity in your house.
If you are 55 a long time of age or older and you make significantly less than $ 15,000 a 12 months gross cash flow or you are married and your blended income is much less than $ 20,000 then you can protect up to $ 175,000 in equity in your household.
If you are physically or mentally disabled then you can guard up to $ 175,000 in equity in your home.

The previously mentioned facts is not intended as legal guidance and you really should continually check with with an skilled bankruptcy lawyer to make certain that your house, motor vehicle or other private residence can be guarded.

Prior to my present career I was creating marketing and advertising channels for cabbage on the black market. Enthusiastic about studying tinker toys in Libya. After had a dream of composing about uncomplicated-bake-ovens in New York, NY. In 2009 I was training human hair in Tampa, FL. Managed a small group getting my feet wet with squirt guns for entertaining and profit. Invested 2002-2010 marketing cannibalism in Naples, FL.

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