Author: Melissa Magee
Author: Melissa Magee
The reality of owning a business is harsh. Money is the source of problems for many things in life, and even though the company might have supported your cost of living in the past, it is always possible that it can go downhill anytime in the future. Though it is sad to deal with the reality, sometimes you must face the truth and accept that the business is no longer feasible. Because as much as you love the company like your child because of all the hard work and time that you have dedicated to it, there is a certain point in financial failure where letting go is your best option. Bankruptcy might seem like a scary thing and what you will keep as your last resort, but you should give it a try and educate yourself on the topic, so you can have better judgment about how it is not as bad as it sounds. While there are many types of bankruptcy out there, here is what chapter 12 is about for you to read if this is the one for you.
Why you should choose this
There are two main reasons why declaring Chapter 12 bankruptcy is an excellent solution to your money issues. The first one is, you can take a larger amount of debt from the government compared to other chapters. The second one is you will have better chance to reduce the number of financial obligations that you have.
Are you eligible
Surely every chapter will have their requirements, and the government made chapter 12 bankruptcy special for family-owned business where the filed is either farming or fishing. But you should look into it more though that is a general idea of who is eligible.
Finding the right lawyer
Pursuing to get the financial protection that you can get through bankruptcy is not easy, you will need help from a lawyer that understands the law and the steps. From what to prepare and which steps that you need to make, a seasoned attorney will make sure that you will get the best out of your situation.
What to look for in chapter 12 attorney
Expertise and experience are two main things that you need to seek in your lawyer. Since the case is not just a general one you need to be in a hand that has the expertise in this area. The more experienced the person is, you will feel more secure as the attorney will have all the resources that they need to help you out.…
When you have a child, you are legally obligated to provide financial support for 18 years, or what is known as the age of majority. Therefore, divorced parents that have children below 18 years do owe a given amount of child support.
Some states can even provide a website or a portal with a child support calculator for 2018. If you are a parent, you can also get free help from a local courthouse. It is important to consider the following factors when determining child support:
Determinants of child support
Income of both parents
The income of all parents is considered. Moreover, the amount a parent can earn is taken into account. For instance, if a doctor in his or her 30s is just lying on the beach rather than working, he or she will owe child support even without an income. Another factor is the amount of money every parent receives. For instance, parents may be earning an interest in other investments.
The number of children also involved is taken into account. Usually, if there are several kids, then the amount of child support required is higher. Another factor is the amount of time every parent spends with the child. If you spend a lot of time with your kid, then you will be required to pay less money as compared to the other parent.
Needs of custodial parent
A parent who has custody of the child will require a lot of support as he or she will incur more expenses for taking care of the kid. In fact, if the custodian does not have income, then non-custodial parent will have to cover the expenses.
Age of child
Depending on the age and the agreement in place, the support may come to an end at a given point in the child’s life. For instance, when the child reaches 18 years, both parents can cut off child support. However, some states demand that child support continues until the child marries or graduates from college.
Standard of living
The standard of living of the child before separation or divorce is also taken into account. The courts look at the standard of living and needs before the divorce. The aim here is to ensure the child continues to get the same level of living after separation and divorce.
Needs of the child
In fact, this may be the main factor to consider. The expenses and needs of the child must match the desired standard of living. Thus, things such as rent, food, education expenses are factored.…
Being in an accident is traumatizing. It is advisable that you get yourself an accident attorney in case this happens. Regardless of who was to blame for the accident you should seek the services of a qualified attorney. When an accident occurs and no one dies, the parties involved can decide to solve their case out of a law court, but a victim of a car crash may insist on going to court. Regardless of how you plan to resolve an accident issue, you should always make sure you have an accident attorney to guide you. If you are seeking the services of an attorney here are some points you should consider when hiring one.
Your accident attorney should be from a known law firm. Reputable law firms are known to have the best attorneys available. You should make a personal commitment to visit their office premises when seeking the services of an attorney. If a law firm has no one who has specialized in your type of case, you can ask them if they can refer you to a firm that can help you.
Always know if the person who is representing you is qualified as an accident attorney. You can know this by inquiring from the law firm the attorney is from. You can also confirm if an individual is qualified by knowing if they are registered with lawyer’s organization. There are internet sites available to help you in identifying the relevant organizations of lawyers to confirm.
Having an experienced accident attorney can determine how much you will be paying or paid for settlements. Accident cases can be settled by paying medical bills or paying some money to the victim. Therefore you need to have an experienced attorney who has dealt with a similar case as yours so that your rights cannot be violated.
Area of specialization
What most people do not understand is that no particular attorney can handle all the cases. There are different types of attorneys depending on their area of specialization. You can find a property lawyer who specializes on property law. Therefore find an attorney who specializes in accidents, finding some who dedicates his time to represent accident victims will be beneficial as he or she will be up to date on matters related to accidents.
You should know the amount your accident attorney will require from you. Most accident attorneys will ask for hourly billing, but there are some who will like to be paid when the case is over. If you are to pay your lawyer when you win, you should agree on the percentage in advance.…