THIS IS AN ADVERTISEMENT

Our Legal Blog

Life Insurance & Divorce

Kentucky Insurance Divorce Lawyer

At its best, divorce is a difficult process. At its worst . . . well, we’ve all heard the horror stories. While the term is a legal one for dissolving a marriage, its emotional aspects are usually harder to work through than its legal ones. Spouses who are divorcing tend to focus on immediate concerns such as who will stay in the marital home, who will have primary custody of the kids and who will pay the credit card bill. It’s easy to overlook long-term financial plans, but doing so can leave you in a […]

Start-Up Funding Tips

Lexington Start Up Cost Business

It takes a lot of inner strength and smarts to start a business. It also takes money, most often by taking out a loan or raising investor capital. While your enthusiasm is building for that great idea of yours and you’re bursting to share it, there are a few things that should be in place before you start to seek funding. You must have a business plan that gives a summary of what your business is and how it will make money. Your plan should include market research showing the viability of your idea, financial […]

Two Jobs, Two Retirement Plans

Retirement Plan

Colloquially referred to as “moonlighting” (not to be confused with that much-loved late-1980’s show starring Cybill Shepherd and Bruce Willis), many Americans have a second job in addition to their full-time one. Stories abound of police officers who work as bouncers, teachers who work as tutors, office staffers who drive cabs. It is also common these days for one person to have two sources of income by working a “regular” day job and running a successful small business on the side. Still others cobble together multiple money-making prospects that see them working a combination of […]

Even Municipalities Have Money Troubles

Small City

At first glance, the most populous city in Michigan and a tiny home rule-class city in Northern Kentucky wouldn’t seem to have much in common. Dig a little deeper and you’ll find that financial emergencies resulted in both municipalities’ seeking the protection of Chapter 9 bankruptcy. In December of 2013, Detroit, Michigan, was declared bankrupt due to its $18.5 billion debt and the impracticality of negotiating with its thousands of creditors. One year later, the city successfully exited the bankruptcy and embarked on a plan to cut $7 billion in debt as well as reinvest […]

Pros and Cons of Prepaid Funerals

Prepaid Funeral

Remember when it was time to buy a new car and you spent time poring over models, colors, dealers, options, prices, incentives and safety ratings? Investing in a new vehicle is a big deal, and any large purchase, whether for a product or a service, should involve comparison shopping. Although not a fun purchase like a car or a big-screen TV, paying for your funeral in advance can bring peace of mind – to you and your loved ones. The truth of the matter is, in death, as in life, someone has to pay for […]

The Bankruptcy Means Test for Chapter 7 Filings

If you have debt that you don’t know how to turn around, you may be able to get relief through bankruptcy. The only legal way to have your debts forgiven, bankruptcy is a federal process by which consumers can eliminate overwhelming financial burden and protect themselves from aggressive creditors. Filing under Chapter 7 of the United States Bankruptcy Code is the most common form of personal bankruptcy, and while it is generous in providing a fresh start, not everyone is eligible. Although many discussions concern whether Chapter 7 bankruptcy is the right choice for your […]

September is College Savings Month

Saving for College

Along with leaves changing color and cooler temperatures, autumn sees the return of school. While it’s easy to get caught up in the immediate necessity of buying new supplies and clothes, it’s also a great time to consider your kid’s educational future – and how you’re going to pay for it. In a nationwide effort to raise awareness about saving for higher education, September has been designated as College Savings Month. The most important thing you can do is make a plan. Navigating the maze of college scholarships, financial aid and student loans isn’t easy, […]

6 Common Estate Planning Issues

Estate Planning

Most people labor under the assumption that life will follow a “normal” path, stretching from school to retirement with a chapter for marriage and kids. But real life is full of choices and twists of fate. There are no guarantees except death and taxes. Consider what would happen to your loved ones if you died suddenly and unexpectedly. On the other hand, what would happen if you lived to an old age? Making estate planning decisions from your death bed comes with its own set of challenges. Putting a plan in place now and having […]

Where There’s a Will, There’s No Intestate Succession

No Will

If you don’t have a will, you’re not alone. According to a survey released last year by Rocket Lawyer, 64 percent of Americans have not taken the time to draft one. Further, the survey revealed that just about half of married Americans with children had no will, while more than 80 percent of single Americans with children did not have one. And the reasons likely sound familiar: 57 percent said they “just haven’t gotten around to making one.” 22 percent felt that making a will wasn’t urgent. 17 percent didn’t think they needed a will. […]

One Last Gift You Can Give Your Family

Funeral Planning

Planning a funeral or memorial for a loved one is something that becomes a sudden and immediate responsibility. At a time when people are already their most vulnerable, the practical demands of saying goodbye can add unnecessary strain. While it’s not pleasant to plan for your own passing, think of it this way: you have the opportunity to leave your family and friends a gift they’ll remember forever – being able to grieve without the weight of emotionally- and financially-charged decisions. Funeral planning is a natural extension of will and estate planning. Thinking ahead can […]