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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. 

Many times, parties who are divorcing to do not take into consideration hidden tax obligations.

For example, a spouse may wish to purchase a home after the divorce or dissolution of marriage is final and intends to use the sale of investments, such as stocks or bonds, for the funds to purchase a home. The spouse may not realize that the sale of the investments may cause a tax obligation for them.

The tax consequences of an award of an asset to a spouse should be taken into consideration when equitably dividing the assets between the spouses. It is also important to consider the “intent” of the disposition of those assets by the spouses.

It’s always best to consult with a CPA or other income tax expert when considering these issues. Your family law attorney can help guide you through this process.

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.

 

Taxes and Divorce A

What Are the Responsibilities of an Executor of an Estate?

One of the advantages of having a Last Will & Testament is that you can choose who you wish to serve as the Executor of your estate after your death.

What does an Executor do to administer a Decedent’s estate? An Executor is the person appointed by a Probate Court to carry out the instructions in the Decedent’s Last Will & Testament.

After a Last Will & Testament is filed in a Probate Court, the Executor must collect, inventory, and set a value for all of the Decedent's assets. All of the Decedent’s debts, taxes, and expenses are then paid, and any remaining assets are distributed to the beneficiaries named in the Last Will & Testament. All of this is done under the supervision of the Probate Court and usually with the help of an attorney chosen by the Executor.

Do you have any questions about having a Last Will & Testament prepared for yourself, or the procedures to administer an estate? What about steps you can take now to avoid probate? If you have questions, please call our office and we would be happy to help you!

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.

 Executor B

Today is “Love Your Lawyer Day”.

Attorneys (or lawyers) help resolve conflicts and protect individual rights. The next time you see your attorney, thank him or her for the services they provide for you.

Bailey & Gunderson Co., L.P.A., with offices in Norwood, Anderson Township and Western Hills. Phone: (513) 631-0022.

 Love Your Lawyer Day B

Did you know that certain debts not dischargeable in a Chapter 7 bankruptcy may be dischargeable in a Chapter 13 bankruptcy?

For example, the following debts may be dischargeable in a Chapter 13 bankruptcy (but not in a Chapter 7 bankruptcy):

a. Certain secured debts where the amount owed the creditor is less than the value of the secured collateral.

b. Certain debts arising from of a divorce or separation property settlement.

c. Willful and malicious property damages.

d. Government fines, penalties and forfeitures.

e. Debt incurred to pay nondischargeable taxes.

If you should have questions regarding how a Chapter 13 Bankruptcy can be used to your advantage versus a Chapter 7 Bankruptcy, please ask us how.

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 13 Bankruptcy

A Chapter 7 or Chapter 13 Bankruptcy may be the solution for your debt and financial problems. Please contact us for your free initial consultation with our bankruptcy attorneys.

Bailey & Gunderson Co., L.P.A., with offices in Norwood, Western Hills and Anderson Township. Phone: (513) 631-0022.

 

Bankruptcy D

  1. EVICTIONS OF TENANTS ARE BEING HALTED UNDER CERTAIN CIRCUMSTANCES.
  2. THE IMPORTANCE OF BENEFICIARY DESIGNATIONS.
  3. THE IMPORTANCE OF FINANCIAL DOCUMENTS IN A DIVORCE.
  4. QUESTIONS ABOUT RETURNING TO WORK DURING THE COVID-19 PANDEMIC?

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Copyright © 2017 by Attorneys Bailey & Gunderson Co., L.P.A. All rights reserved. 

5257 Montgomery Rd, Norwood, OH 45212 - Phone: 513-631-0022

Bailey & Gunderson Co., L.P.A., is Cincinnati Family Law. Estate Planning And Bankruptcy Lawyers located in Cincinnati, Ohio, and represents clients across Hamilton County and beyond, in places such as Batavia, Norwood, Western Hills, Anderson Township, Anderson, Amelia, Mason, Harrison and Hamilton. 

Disclaimer: The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us and welcome your calls, letters and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.

 

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