If you’re getting ready to send your son or daughter off to college, the list of what they should bring with them may seem endless. But, what students usually need most is credit. That’s why parents, grandparents, and family friends often consider co-signing for a student’s loans or purchases. But do you really know what you’re signing up for when you co-sign for someone else’s debt?
If you need to hire a lawyer, chances are you’re already stressed out. The last thing you need is the stress of hiring the wrong attorney. It could cost you a whole lot more money, and cost you your case. But where should you begin? Start by knowing what NOT to do. And that’s hiring an attorney you haven’t interviewed. You might as well rip a page out of the phone book, pin it to the wall and throw a dart. Your odds of hitting a bulls-eye are about the same.
Imagine sitting across the table from someone and not understanding half of what they’re saying – even though you’re paying hundreds of dollars an hour to listen to them speak! It’s common practice for people who sit down with an attorney. The lawyer is speaking English but the language is totally foreign. It’s actually “legalese,” and believe it or not most attorneys are not trying to make things more confusing or scare you into thinking that the law is so complicated only an attorney could possibly understand it – they just forget to use plain English. But you as the client can bring your attorney back down to literal reality and get them to talk in clear everyday language.
While the holidays can be one of the most hectic times of year, they also are one of the few times that busy families have a chance to come together and connect. And once the food and festivities are over, there’s that rare opportunity to talk openly about some important issues that affect everyone at the dinner table. Topics that go to the heart of what family is all about – being there for each other when the going gets tough. No one likes to think of parents aging and not being able to care for themselves, or a family member being in a life or death situation, but these things do happen and proper legal planning can make the hard times a lot easier. You really have to take it even a step further – loving, close knit families have been torn apart by a lack of clear direction on how to handle the most difficult types of situations. But you can avoid that happening in your family. (more…)
If you haven’t gotten around to putting a Will in place, or you haven’t updated the one you did years ago, you run the risk that when you’re gone; things won’t go the way you want them to. It’s important to recognize that no matter how many or how few assets you have – if you have a minor child, you need a Will naming who will be guardian if both parents die. If you don’t put this in place, your kids could wind up the center of an ugly court battle, be pushed on a relative who doesn’t want them, or be stranded in the foster-care system. To be safe, list your first choice for guardian as well as a back-up or alternate guardian.