THIS IS AN ADVERTISEMENT

Our Legal Blog

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 […]

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. […]

7 Things All Debtors Should Do

7 Things All Debtors Should Do

No one likes to owe money. Not being able to pay the bills can leave people feeling frustrated, embarrassed, depressed and hopeless even though many money troubles are due to forces beyond their control, such as losing a job or getting very ill. You may be contacted by a debt collector once your debts are seriously past-due. A debt collector may be a collection agency, a lawyer who collects debts as part of their business or a company that buys delinquent debts and then tries to collect them. As you deal with the situation and […]

Business Owners Need a Graceful Exit Strategy

Business Owner

It’s easy to get caught up in the demanding pace of everyday life. Many of us don’t seriously consider making a plan for the future, for taking the necessary steps to protect what’s important to us. Estate planning is complex, yet essential, and owners of businesses must deal with the same possibilities as individuals. Succession planning allows small-, medium- and large-sized businesses to prepare for the inevitable by combining corporate law solutions with estate planning solutions. With the youngest members of the baby boom generation set to turn 65 years old by 2029 (with the […]

Bunch Named Senior Counselor by Kentucky Bar Association

Bunch & Brock, Attorneys is pleased to announce that W. Thomas Bunch was honored by the Kentucky Bar Association earlier this year as a Senior Counselor. Mr. Bunch was admitted to the Kentucky bar in 1965 and has practiced in the Comonwealth for nearly fifty years. He is also a member of the Kentucky and Fayette County Bar Associations, the American Bankruptcy Institute, and is an associate member of the National Conference of Bankruptcy Judges. He is a life member of the Lexington Kiwanis Club. Mr. Bunch founded Bunch & Brock, Attorneys in 1976, and […]

Sale of Mines in Bankruptcy of James River Coal

A bankruptcy judge in Virginia has approved the sale of three coal mining complexes to Lexington, Ky.-based Blackhawk Mining. The deal was part of the James River Coal Co. bankruptcy, Case No. 14-31848 (Bankr. E.D. Va.). The three facilities are located in West Virginia, Kentucky, and Indiana. The total sale price was $52 million. The buyer will pay $20 million to the bankruptcy estate and assume $32 million in liabilities which relate to the three mining facilities. This arrangement is common in bankruptcy because it brings liquid assets into the estate plus it reduces the […]

The Employment Contract’s Covenant Not to Compete

Non-compete Clause

Many individuals blindly sign employment contracts so that they can get back to work and generate income as quickly as possible. This is especially true when jobs are scarce and the economy is struggling. In doing so, these individuals may overlook important provisions that could have negative consequences for them down the road. One such provision is the “covenant not to compete.” A covenant not to compete is a promise by an employee to its employer that continues beyond the time the employee has his or her job. Typical covenants not to compete prohibit the […]