Monthly Archives

March 2020

Bankruptcy,

Learning How Children’s Accounts Are Affected When Parents File Bankruptcy

When parents of minor children decide to file bankruptcy in Valdosta under Chapter 7 protection, they may wonder how this will affect the youngsters. They may worry about other people finding out and viewing the family negatively. They’re afraid they may be required to sell some of the children’s belongings. They don’t know how bankruptcy will affect savings accounts they have set up for the kids.

A Child’s Belongings and Bank Accounts

Typically bankruptcy trustees are uninterested in acquiring money from selling children’s possessions unless there is something very valuable. A child’s savings account in a bank or credit union usually is exempt from the dissolution requirement applied to the general savings accounts of adults who file bankruptcy in Valdosta. The same is true for 529 educational funds. These financial instruments are intended to encourage parents to save for a child’s future education by offering tax advantages.

An Important Point

One important point, however, is when money was last deposited. Bankruptcy trustees must look for evidence of fraud. Examples include a person funneling money into accounts that are exempt or running up credit card balances within a few months to a year before filing. In those cases, the recent deposits may not be exempt, and the recent credit card charges might not be discharged.

An exception may be made if there are records showing that any recent deposits to a child’s savings account were not from the parents. Money might have been a gift from grandparents or godparents, for example. A younger teenager might have been earning money by mowing lawns, delivering newspapers or babysitting.

For more information visit Charles Farrell Jr. LLC.

Personal Injury Lawyer,

Understanding Injury Compensation with a Personal Injury Attorney in Putnam, CT

Serious personal injuries can alter an individual’s way of life. Injuries have negative impacts on one’s health, work-life, and other required day to day activities. The consequences of injuries have devastating effects on families and other close individuals.

Where negligence is involved costing familie should not suffer alone. There are qualified personal injury attorneys that can battle on behalf of individuals and families to attempt to recover damages and losses for emotional, physical, and financial burdens.

A personal injury attorney in Putnam, CT, assists victims in getting the maximum compensation that they deserve to advance with their lives. In a legal contest, a personal injury claim is a right in which an injured individual seeks compensation from the other party whose negligence contributed to the injuries.

A perfect example is a distracted driver whose action causes a head-on collision, and leaves the passenger injured. The injured party has the right to file a suit in an attempt to recover compensation from the faulty driver.

For a party to triumph in a personal injury claim, acquiring an experienced and skillful attorney is paramount. A personal injury attorney will successfully show how a person’ injuries have breached their way of life and other responsibilities.

In some instances, no one is liable for injuries and other damages. Some elements must be on the ground so that a personal injury victim can get compensation. To be sure of this, victims should hire personal injury attorneys to intercede for them.

Bates and Roper Attorney is an experienced law firm that represents personal injury victims in court. For a consultation, contact them at https://www.batesroper.com/.