Even in the face of overwhelming debt most in Des Moines would likely say that they would want to repay their creditors. The common perception of many that file for bankruptcy is that they simply are looking for a way of getting out of paying their bills. Yet the discharge of debts only comes with a Chapter 7 bankruptcy; those filing under Chapter 13 create a payment plan with the court to pay back their creditors over several years. Creditors in these cases are allowed to review proposed payment plans to determine whether they are feasible and offer feedback regarding their own interests.
Estate planning is an important endeavor for Iowa readers and residents, regardless of income and estate size. This process allows you to decide what will happen to your assets, money and all types of property after you pass away, but there is more you can do with your estate plan. In addition to a basic will, you may benefit from the protections provided by a living will.
Filing for bankruptcy protection is something many Iowa residents do when they need to dig themselves out of debt or get a fresh financial start. If you count yourself among those considering doing so, you may be wondering how filing will affect other aspects of your life, and whether you will have to surrender your home at some point during bankruptcy proceedings.
As someone currently working on your Iowa estate plan, chances are, one of your main objectives involves leaving as much of your hard-earned assets behind for your loved ones as you possibly can. While there are various methods you can rely on to accomplish this, one method involves minimizing the amount of taxes your loved ones will have to pay on your estate. At Janssen Law, PLC, we are well-versed in the various methods you can use to reduce estate taxes, and we have helped many clients accomplish these and related goals.
If you are going through a divorce in Iowa, you probably will come to the point where the court will consider alimony or spousal support. In determining whether you will receive support, the court will look into several factors about your relationship and marriage.