Baily & Gunderson

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.

SAVE MONEY BY PREPARING A LAST WILL & TESTAMENT WITHOUT AN ATTORNEY? NOT REALLY!

Recently, a client consulted with our office for assistance to administer the estate of her late sister. The client’s sister had prepared a Last Will & Testament herself without the assistance of an attorney.

Upon examination of the sister’s Last Will & Testament, it was discovered that the sister’s Last Will & Testament was not properly executed pursuant to Ohio law. Specifically, the client’s sister signed her Last Will & Testament before a notary public. A notarization of the sister’s signature on her Last Will & Testament did not create a valid Last Will & Testament.

Ohio law required that the sister sign her Last Will & Testament in the presence of two (2) witnesses, who must also sign as witnesses to the sister’s execution of her Last Will & Testament in the presence of each other. By the sister’s failure to execute her Last Will & Testament in the presence of two (2) witnesses, the sister’s Last Will & Testament was invalid.

That’s not the end of the story. The client's sister had made provisions in her Last Will & Testament to leave her estate to the client and the client's husband for their assistance, both personally and financially, to the sister provided for a number of years. Unfortunately, due to the fact that the sister’s Last Will & Testament was invalid, the sister’s estate must now be distributed among all of the sister’s siblings. Therefore, the sister’s goal to provide for the client and the client’s husband will be unsatisfied.

The moral of this story is that the wishes of the client’s sister could have been satisfied by the sister consulting with an attorney and having a Last Will & Testament prepared and executed in the correct manner required by law. The expense the client’s sister would have incurred for attorney fees to have a Last Will & Testament properly prepared by an attorney would have been minimal compared to the additional expenses that shall be incurred to administer the sister’s estate with an invalid Last Will & Testament.

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.

Last Will Testament A

: B&G Law; 28 July 2021; 28 July 2021

DO YOU WANT TO KEEP MORE OF YOUR ASSETS IF YOU ARE THINKING ABOUT TERMINATING YOUR MARRIAGE?

A dissolution of marriage may be the answer for you. A dissolution of marriage is a process to terminate a marriage “by agreement”. Prior to any filings with a court, the spouses can agree that each spouse shall retain his or her own assets even if the division of assets is not fair or equitable. The key to a dissolution of marriage is that both spouses reach an agreement regarding the division of their assets, which is committed to a signed, written agreement.

This is contrasted with a divorce where a Domestic Relations Court Judge is required to allocate the “marital” assets equally between the parties. Marital assets are those assets acquired by the parties “during the marriage”. A divorce is necessary when the spouse cannot reach an agreement regarding the division of their assets making a dissolution of marriage not possible.

Find out how a dissolution of marriage may be advantageous to you by contacting us at Bailey & Gunderson, Attorneys-at-Law, at (513) 631-0022 with offices in Norwood, Western Hills and Anderson Township.

Dissolution of Marriage B

: B&G Law; 13 July 2021; 13 July 2021

SHOULD I FILE FOR CHAPTER 13 BANKRUPTCY?

A Chapter 13 bankruptcy is a debt relief option where a plan is approved by a U.S. Bankruptcy Judge permitting a person to reorganize their debts.

A Chapter 13 bankruptcy can allow a person whose payments are behind for their real estate mortgage or auto loan to retain their real estate or auto. This prevents the real estate from being foreclosed upon by a creditor or the auto from being repossessed by a creditor.

A Chapter 13 bankruptcy is sometimes required if a person requires debt relief, but their income is too high to qualify for a Chapter 7 bankruptcy.

In some cases, a Chapter 13 is the only option when there was a recently filed Chapter 7 bankruptcy, and the time period for re-filing another Chapter 7 bankruptcy of 8 years has not expired.

There are other reasons that may require the filing of a Chapter 13 bankruptcy as opposed to a Chapter 7 bankruptcy when someone is having financial problems and requires debt relief.

Please call the attorneys at Bailey & Gunderson at (513) 631-0022 with office in Norwood, Western Hills and Anderson Township for further information if you are considering filing for Chapter 13 bankruptcy to address your financial issues.

Chapter 13 Bankruptcy B

: B&G Law; 25 June 2021; 25 June 2021

FAMILIARIZE YOURSELF WITH YOUR FINANCES BEFORE A DIVORCE.

It is not unusual when we consult with a client about a divorce that typically one person in the household manages the finances. When it is the client’s spouse who manages the household finances, many times the client does not know about all of the investments, retirement plans, bank accounts, debts, etc.

What can you do to protect yourself? Seek professional help from an attorney to guide you how to learn about your household finances before informing your spouse that you want a divorce. An attorney knows the questions to ask and can guide you so that you can learn about your household finances before filing for divorce. Doing so will help you reach a more equitable settlement or outcome in your divorce action.

The attorneys at Bailey & Gunderson, with offices in Norwood, Western Hills and Anderson Township, can help guide and educate about this process. If you should have any questions about this or any other issues, please call us at 631-0022.

Finances Divorce

: B&G Law; 09 June 2021; 09 June 2021

HOW OFTEN CAN YOU FILE FOR BANKRUPTCY?

We are often asked by clients who have previously filed for bankruptcy (and are having financial problems again) how long they must wait to file for bankruptcy again to receive a discharge of the client’s debts.

Here are some general rules:

If you need to file a Chapter 7 Bankruptcy: You cannot receive a discharge in a new Chapter 7 Bankruptcy if you received a discharge in a prior Chapter 7 Bankruptcy filed within eight (8) years of the filing date of the new Chapter 7 Bankruptcy. If the prior filing was a Chapter 13 Bankruptcy, the prior Chapter 13 Bankruptcy must be reviewed to determine how long you must wait to file a Chapter 7 Bankruptcy.

If you need to file a Chapter 13 Bankruptcy: You cannot receive a discharge in a new Chapter 13 Bankruptcy if you received a discharge in a prior Chapter 7 Bankruptcy filed within four (4) years of the filing date of the new Chapter 13 Bankruptcy; or received a discharge in a prior Chapter 13 Bankruptcy filed within two (2) years of the filing date of the new Chapter 13 Bankruptcy.

I know this sounds complicated. The attorneys at Bailey & Gunderson with offices in Norwood, Western Hills and Anderson Township can explain how these rules apply to you. Please give us a call at 631-0022 if you should have any questions.

How Often Can You File Bankruptcy