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Adequate Protection Explained: Adequate protection payments are made to a secured creditor to provide protection for the creditor’s depreciating collateral.  In a Chapter 13 bankruptcy, a debtor is granted an automatic stay upon filing of the bankruptcy, meaning creditors cannot pursue usual modes of collection if payments are not made on time.  While Chapter 13 filers are required to start making payments to the Trustee upon filing their proposed plan, the Trustee cannot distribute payments to creditors until the plan in confirmed.  Since it can take many months for a Chapter 13 plan to be confirmed, secured creditors would then

When to Use an Expert Divorce Financial Analyst for a Community Property Partition: Are you considering divorce?  Obviously, this step requires careful consideration of property issues and the best approaches for same.  There are many things that you need to think about before you decide on your final move.  One of them will certainly be the state of your finances.  No one wants to leave a marriage bankrupt. Our firm works with a few of the very best forensic accountants and financial experts in the region to best maximize your results in all aspects of community property partition.  Here is

Why You Should Have a Digital Estate Plan:  Estate planning has expanded beyond the traditional scope of wills, trusts, and powers of attorney.  In modern times, significant part of our lives exists digitally.  Your traditional estate plan likely does not account for what happens to your digital assets after death.  A digital estate plan comes into play as a method for organizing your online information. Creating a digital estate plan provides access to information that your family can use to carry out your final wishes.  When your loved ones can rely on a written plan that outlines the passwords for

Understanding the Benefits of a Special Needs Trust: Special needs trusts (SNTs) play a crucial role in the lives of loved ones with disabilities.  The primary benefit of a special needs trust over a typical testamentary trust or living trust is that it won’t disqualify the beneficiary from certain government benefits, such as Medicaid or Supplemental Security Income (SSI).  However, navigating the legal intricacies of setting up a special needs trust can be complex, especially given the unique trust laws and regulations of each state. Medicaid and SSI are needs-based government benefits that have specific income and asset requirements that

Naming a Tutor in your Will is a Crucial Step: It’s difficult to think about the situation where a young child loses both of his or her parents, but this is the time when a tutor would step in to take care of the child.  Naming a tutor is often overlooked when preparing a last will and testament, especially when someone writes their own will.  In many instances though, naming a tutor is the main reason for writing a will.  It is not uncommon for someone’s final wishes to coincide with the default laws of intestacy. For instance, perhaps a

Debt May Survive Discharge When a Debtor Fails to List a Debt in Bankruptcy: It is required that a debtor list all of his or her creditors and their most current address in the bankruptcy schedules.  If they fail to do so, a judge may not discharge the debt.  Listing all debts is required so that the court can properly notify the creditors by mail.  Creditors have important rights in a bankruptcy, such as filing proofs of claim and objections, and not listing them deprives them of exercising those rights. If a debtor forgets to list a creditor on their

Why Having a Last Will for Separate Property is Crucial: It is common for married couples to acquire property prior to the marriage.  This property is considered separate property.  Because the order of succession is different for community property and separate property, it is imperative to know what will happen to your property if you die without a last will and testament.  Often times, the intestate laws are in direct conflict with the actual wishes of the property owner.  When that is the case, you should strongly consider creating a will as part of your estate plan. Classification of Property:

Issues to Consider Regarding Finances in Divorce: Generally speaking, a divorce will have a profound impact on your finances both now and in the future.  As Louisiana is a community property state, all property is presumed to be community unless proven otherwise, meaning essentially half of your net worth could be exposed via trial or in a final settlement.  Furthermore, you might also be responsible for paying a joint debt that you didn’t know about or play a role in accruing. Tips for Paying Off Joint Debts When a Marriage Ends: It might be in your best interest to make

Section 8 Evictions Explained: Many landlords choose to participate in the Section 8 program.  Afterall, it offers the benefit of guaranteed rent subsidy payments.  However, it may not always work out as expected.  The tenant may stop paying their portion of the rent, seriously damage the property, or some other lease violation may arise.  If it becomes necessary to pursue eviction, the landlord must follow not only state and local procedures for eviction, but also U.S. Department of Housing and Urban Development (HUD) regulations. As a landlord participating in the Section 8 program, it’s essential to understand and protect your

Louisiana Grandparent Visitation and Custody Considerations: If your grandchildren live with you already or you have concerns about their home life, you may want to seek legal custody or visitation.  Louisiana allows grandparents to take this step in certain situations.  Review the factors that affect grandparent visitation and custody before moving forward with this process.  Circumstances Warranting Grandparent Visitation: One can petition a Louisiana court in the parish where your grandchild lives for legal visitation if:  Your grandchild’s parents have divorced or lived apart for at least six months; One or both of your grandchild’s parents has died, gone to prison,