Pet Lovers, Take a Lesson from Joan Rivers
Pet Lovers, Take a Lesson from Joan Rivers The recent passing of 81-year-old comedian Joan Rivers has left both friends and fans mourning and estate planning experts cheering. Not because she’s gone but because she did a fabulous job estate planning-wise. She had a complete and updated estate plan, unlike the many Hollywood stars we learned lessons from in this post. Rivers had a simple estate plan, with no spouse, most all was left to her daughter. This estate plan specifically included a plan for her beloved dogs via what’s called a Pet Trust which you can read about in...
Read MoreChapter 13 Bankruptcy: Creditor Claims
Creditor Claims in Chapter 13 Bankruptcy In a Chapter 13 bankruptcy, all creditor claims are put into one of three classes: Secured, priority, or unsecured. Read on for a quick lesson on how to know which type of claim is which. Secured Claims are held by creditors who hold a lien on collateral, such as a car or furniture, to secure payment of their loan. Even the IRS can be secured if they have recorded a lien. Secured claims get paid 100% on a dollar plus 10% interest on an amount equal to the fair value of equity in the collateral. If the creditor is undersecured (i.e., their claim...
Read MoreOctober 15th: Tax Day the Sequel
October 15th: Tax Day the Sequel We all know the dreaded April 15th is Tax Day. However, there is a less infamous cousin of Tax Day: October 15th, the deadline to file taxes for those who received an extension for filing. The IRS allows taxpayers to request a six month extension to complete their taxes. I am sure those businesses and individuals immediately felt a sense of relief at the time when their extensions were granted. Last year, over 12 million individuals requested an extension according to the IRS. Fast forward six months, and the dreaded October 15th deadline is looming over...
Read MoreEstate Planning: Not Just for the Wealthy
Estate Planning: Not Just for the Wealthy According to CNBC’s latest report about Estate Planning There’s a common misperception that estate planning is reserved for the wealthy, as an attempt to shield assets from the grasp of Uncle Sam—but nothing could be further from the truth. We here at GQ Law couldn’t agree more! EVERYONE needs an Estate Plan and we are here to help! CNBC’s report reiterates that Estate Planning makes sure that you can give what you want to who you want with the least amount of taxes taken from it. You may be thinking, estate? What estate? I...
Read MoreCan I File Bankruptcy?
Can I File Bankruptcy? Whether you qualify or not to file bankruptcy is dictated by a mechanical calculation created by the court to determine your ability to pay back their debt. As you read on you will learn that this a complicated and confusing qualification process. We HIGHLY recommend that you meet with a bankruptcy professional in person to discuss your particular situation. Contact us online or call us at 858-549-8600 to set up for FREE bankruptcy consultation solutions with San Diego Attorney Gary Quackenbush and his staff. We’ve been helping people like to to get out from...
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