Probate proceedings can take months — oftentimes longer than a year — and can be costly and emotionally draining for the family and loved ones left behind to deal with probate proceedings. However, probate can be avoided altogether with proper estate planning.
When experiencing financial hardship or overwhelmed with debts, filing for bankruptcy may be one of the more promising options to remedy your financial situation and obtain debt relief. If you're thinking about filing for bankruptcy or if you are worried about what life post-bankruptcy looks like, consulting with an experienced California bankruptcy attorney is important for proper guidance.
The American Bankruptcy Institute reported that there were 51,146 bankruptcy filings in California in 2020. Couples going through financial hardship in California have the option of filing for bankruptcy together or individually.
According to the most recent statistics, the probate process can easily cost between 3% and 7% or more of the total value of an estate. If you consider attorney fees, executor's commission, and accountant fees, the overall estate administration expenses may eventually cost more.
According to recent statistics, more than 30,000 individuals file for bankruptcy protection each year in Los Angeles County and Orange County combined. Though there has been a slight downward trend in the past few years, no one can be sure of the effect that the pandemic lockdown will have on these statistics when all is said and done.
Estate planning is one of those tasks we tend to put off. In fact, only 32% of adults have a will. At The Orantes Law Firm, we help clients in Los Angeles County and Orange County, California, determine what estate planning tools work best for them.
According to the Small Business Administration, 99.9% of all businesses in the United States are small businesses — that is, business establishments with less than 100 employees. The COVID-19 pandemic has led to widespread shutdowns, thus, affecting countless small businesses across the country.
With all the information available today regarding bankruptcy, it is no surprise that much of the information is either misleading or false. In some cases, companies may lie to you to get your business or to keep you from moving forward with filing for bankruptcy.
Life's financial curveballs can strike unexpectedly and sideline you from paying bills, debts, and meeting your day-to-day needs. When experiencing financial adversity, declaring bankruptcy can help you remedy your situation and get a fresh start.
Most borrowers repay their debts in a timely manner. But what happens when they don’t? What are the rights of creditors? What rules must creditors follow?
