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Hernando County Law Blog

Not all debts are forgiven with Chapter 7 bankruptcy

Many Florida residents may have struggled to make a comeback from the depression. NerdWallet.com notes that debt is a common problem, even for those who have been fortunate enough to maintain their careers. Since 2003, income growth has not kept up with the cost of living. For example, although the median household makes 28 percent more now, the cost of food has gone up 36 percent.

According to United States Courts, although many debts can be relieved through bankruptcy, the Bankruptcy Code outlines specific debts that are deemed nondischargeable, meaning they will not be automatically removed should the filing be accepted. In a Chapter 7 filing, the applicant will still be expected to pay any debt that falls into the following categories:

  • Restitution, fees, fines or other penalties resulting from any criminal activity, injury to an individual or damage to another person’s property
  • Domestic support, such as child or spousal support
  • Debt acquired in a fraudulent manner
  • Some tax obligations
  • Student loans (except in rare occasions)

Trends for millennials when it comes to types of debt

What types of debt a person has can matter a great deal. For one, it can have major implications when a person has trouble keeping up with their debt. This is because different types of debt can raise different kinds of issues when it comes to pursuing debt relief options. For example, the exact nature of a given type of debt can have impacts on how it would be treated in bankruptcy and on what implications this would have for a person who is pursuing bankruptcy. Bankruptcy lawyers can advise individuals considering bankruptcy on what the types of debt they have mean for what kind relief they might be able to receive through the bankruptcy process.

What trends when it comes to types of debt have millennials been experiencing? A recent TransUnion study indicates that there are a couple types of loans that millennials are more likely to take out than the generation before them was.

Evolving child custody procedures

On top of the stress that divorce can create for both spouses involved, making arrangements for children is an entirely different matter. Sometimes, spouses may decide to live in different states, or make other major life changes that can significantly alter the lives of children. As with most states, Florida's courts see countless men and women who simply cannot agree on child custody arrangements.

While most couples can come to an agreement regarding child custody at some point in the divorce, the process can take months to work through, and children are the members of the family who are the most affected. Florida's laws are continuously changing to best meet the needs of divorcing couples and their children.

Are you entitled to alimony?

Many of those in Hernando County who choose to divorce may carry some preconceived notions into their proceedings. One of those is often the assumption that whichever one of the couple was not the primary household wage earner will be entitled to alimony. If you hold such an assumption, you should know that such a benefit is not automatic. Even if you are awarded spousal support, it may only be granted as temporary assistance to help you transition into your new life. 

Florida's guidelines granting the awarding of alimony can be found in Section 61.08 in the state's statutes outlining the Rules for Civil Practice and Procedure. They state that, among other things, the court considers the following factors when determining if alimony is warranted: 

  • How long your marriage lasted
  • Your marital standard of living
  • Your age and physical condition
  • Both yours and your ex-spouse's current financial resources
  • Both yours and your ex-spouse's earning capacity
  • The contributions that both of you made to the marriage

What if you die without a will?

Much of the reason why you and others in Hernando County are encouraged to see to your estate matters early on in life is to retain control over how your estate property is dispersed when you are gone. The probate court is there to help in the distribution of your estate, yet after working so hard throughout your life to accumalate assets, would you not want to have a say in who gets them? If you fail to create a will, you will not. In such a situation, the dispersal of your estate becomes subject to the state's rules regarding intestate succession. 

Intestate is the legal term used to describe scenarios where one died without a will. Section 732.102 of Florida's Probate Code outlines the order in which your estate assets will be dispersed in such a case. If you are survived by a spouse but no other descendants, then your entire estate will go to him or her. The same is true if you do have descendants (children or grandchildren) who are also your spouse's biological descendants. In the event that your descendants are not related to your surviving spouse, or if they are yet your spouse has descendants that are not related to you, then they recieve one-half of the estate, while your spouse would recieve the other half. 

What age should people create wills?

A surprising number of American citizens lack a will, a crucial document people need to have upon their deaths. In fact, an article from Forbes states that 62 percent of Americans between the ages of 45 and 54 do not have a will. 

No one likes the idea of writing a will, but it is important to do so. Upon dying, a will states which assets go to which people. To protect loved ones, people need to have a will in place or else it will be up to the state to decide. Here is an important reminder: people are never too young to write a will. 

Florida estate planning: a complex and wide-ranging universe

A truly accurate depiction of estate planning for individuals and families necessarily conveys the point that estate administration is centrally about preservation, which is a reality that we stress on our legal website at the Hernando County Day Law Firm in Spring Hill.

And there is often much to preserve, which we routinely note in our on-point and empathetic representation of diverse clients from across the Central Gulf Coast region.

Tips on reaching amicable custody agreements

Florida has one of the highest divorce rates in the United States. In fact, data indicates approximately 80,000 divorces took place in the state in 2015 alone.

There are many stressful details spouses need to work through in a divorce. Perhaps none are as stressful as determining child custody. In many cases, figuring out a custody arrangement can get emotional, especially if the two parents are on completely opposite ends of the spectrum on what they want to do. Unless there is a specific reason to exclude a parent from any kind of custody, joint custody is the norm. When trying to bring a custody battle to a conclusion, it is important to keep the following tips in mind so that everyone ends up satisfied.

3 myths about Chapter 7 bankruptcy

It is normal for you to be hesitant about filing for bankruptcy due to misinformation and social stigma. However, if you have determined Chapter 7 is right for you, there is no need to fear the process or the consequences. In fact, delaying will only hurt your case.

It is better to have a clear understanding about bankruptcy so you can have more confidence and less stress and avoid making mistakes. If you believe these three myths about Chapter 7, forget them and learn the truth instead so you can begin your bankruptcy case on the right foot.

What you should know about Florida parenting plans

Parenting plans have direct consequences on children and both parents. Deciding how you and your ex will take care of your child following the divorce can be an emotional, stressful and even contentious process. To set yourself up for the best parenting plan possible it is important to understand Florida statutes regarding parenting plans.

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Day Law Your Hometown Attorneys

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Spring Hill, FL 34606

Toll Free: 888-326-9553
Phone: 352-200-2382
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