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Various Blogs regarding Cincinnati Family Law, Estate Planning And Bankruptcy.

At Bailey & Gunderson, our attorneys help people going through some of life's most difficult challenges. We bring our experience, skill and creativity to every case, taking on all types of Family Law including Divorce, Bankruptcy, Probate and Estate Planning issues.  Learning that most people ask the same questions - this blog is our way of providing some general legal information.  Feel free to contact our Cincinnati Law Offices to discuss your specific situation. 

Choosing whether to file a Chapter 7 or a Chapter 13 bankruptcy depends on many factors requiring the assistance of a qualified attorney. For example, an attorney can help you assess some of the following factors that must be considered when filing for bankruptcy:

a. Personal assets. A Chapter 7 bankruptcy involves the liquidation of assets although there are some exemptions available that will allow you to keep all (or most) of your assets. If there are assets that must be turned over to a bankruptcy trustee in a Chapter 7, a Chapter 13 bankruptcy will allow you to begin a repayment plan to retain those assets that otherwise would be lost in a Chapter 7 bankruptcy.

b. Nature of the debt. Credit card debt is typically dischargeable at the end of bankruptcy. A Chapter 7 bankruptcy may be desirable for people with mainly credit card debt while those with non-dischargeable debt, such as income taxes, may benefit from a Chapter 13 repayment plan.

c. Personal income level. Your income will determine whether you can file a Chapter 7 bankruptcy, or will have to pay some (or all) of your debt through a repayment plan in a Chapter 13 bankruptcy.

The attorneys at Bailey & Gunderson can help you assess which bankruptcy is the best choice for you and explain why.

This insight into the law is provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.Chapter 7 vs 13

New child support laws in Ohio will be implemented soon. Ohio House Bill 366, which passed both houses of Ohio's legislature on June 7, 2018, updates Ohio's child support guidelines for the first time in over 25 years. The changes modify the child support calculations, child support tables, and healthcare coverage guidelines. The changes also implement new parenting time adjustments to child support orders.

Interested in more information? Please contact us at 631-0022.

This insight into the law is provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.Child Support doc

“TEAMWORK IN DIVORCE CASES IS BEST FOR THE CHILDREN”

Came across this article that discusses and supports the concept that divorcing parents must put the needs of the children first for their betterment. This article addresses concepts that:

(a) “By parents operating as a team, the children will feel they are more valued and important than the conflicts that ultimately dissolved the marriage.”

(b) “When parents work together and co-create an amicable, consistent and responsive family unit after divorce, the child will benefit invaluably.”

(c) “Their child’s prior definition of family has been broken, and it now holds two parents that do not love each other anymore. In working together as a team with intention, parents can address their children’s feelings and worries head-on and help the family create a new sense of normal that allows children to love each parent freely and without fear of creating loyalty conflicts.”

Your legal and counseling team can give you advice on how the law can help you co-parent better for your children.

This insight into the law is provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.

512x512bbTeamwork in Divorce Cases for the Betterment of Your Children

The new tax law may change how spousal support is treated on your income tax returns in the future.

Under the Tax Cuts and Jobs Act passed by Congress in December, 2017, spousal support will not be tax deductible for the person paying spousal support. Likewise, spousal support will no longer be considered income, and thus taxable, for the person receiving spousal support.

It is important to note that this new law will only apply to divorces and separation orders that are executed on or after January 1, 2019. The provisions of the law related to this issue are not retroactive, and thus, do not apply to divorces and separation orders entered before January 1, 2019.

This insight into the law is provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.3 Spousal Support

The Commonwealth of Kentucky has enacted a new law that will go into effect in June making Kentucky the first state in the country to establish a blanket presumption "that joint custody and equally shared parenting time is in the best interest of the child" in every divorce case.

The law includes provisions to disqualify unfit parents based on prior domestic violence or significant mental health problems as well as physical distance that would make co-parenting impractical.

The new law will ensure that children don't automatically "lose" a parent to a divorce. There is hope that the new law will prevent parents from becoming hostile over custody issues.

This insight into the law is provided by Michael S. Bailey, Esq. of the law firm of Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.th4 3

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