How to Prepare for a Consultation with a Bankruptcy Lawyer

Making the decision to file for bankruptcy can be daunting. The best bankruptcy lawyers provide legal counsel without judgment and advise you of all the debt relief options that may be available to you. Being properly prepared for your consultation can take some of the weight off your shoulders and enable your attorney to provide the best advice possible.

Be Open and Honest

Scheduling a meeting with a bankruptcy law firm is often the first step in getting out of under-crushing debt. Many people feel embarrassed or anxious about revealing the state of their finances, but it is important to remember that a bankruptcy attorney is there to help you and handles cases like yours every day. Filing for bankruptcy is a serious decision. Being totally honest about your financial situation gives you and your lawyer a solid base to work from when determining which course of action will best benefit you.

Documents to Bring to Your Consultation

A bankruptcy attorney will likely provide a list of documentation you need to bring to your consultation, including:

• Driver’s license or ID
• Social security card
• Tax returns from the past two years if filing Chapter 7
• Tax returns for the past four years if filing Chapter 13
• Your last two W-2s and pay stubs from the preceding six months
• Documentation of any other income sources such as Social Security, disability, or rental properties
• If you’re self-employed, profit and loss statements for the preceding two years and a year-to-date P&L statement
• Bank statements for the last six months
• Current statements for your mortgage and car loan
• A current estimate of your home and car values
• Current statements for retirement and investment accounts
• Copy of your life insurance policy
• Documents that show other debts you may owe, such as mortgage, loan, and credit card statements, utility bills, child support arrears, and all other debts
• Any foreclosure paperwork, if applicable
• Copies of child support and alimony orders
• If divorced, a copy of your divorce settlement agreement

It is important to include all sources of income and debts in your bankruptcy filing. Failing to do so could cause problems with your case and any debts you omit will not be wiped in Chapter 7 or included in a Chapter 13 payment plan. If you are married and filing jointly, your spouse will need to provide financial documentation as well.

Questions Your Bankruptcy Lawyer Will Ask

To get a full picture of your lifestyle and finances, your bankruptcy attorney will ask why you are considering bankruptcy and what your financial goals are. They a may also inquire about:

• Whether you are married and have dependent children
• Income amounts for you and your spouse
• How much money you’ve made in the last six months
• Whether you own a business
• Whether you have any assets, what they are, and how much they are worth
• If you have recently sold or transferred any property in the past two years
• If you owe back taxes
• If any creditors have judgments against you
• Whether you have any pending personal injury settlements
• If you are in arrears on child support or alimony payments
• Which types of bankruptcy you are considering

Questions to Ask a Bankruptcy Attorney

When meeting with any lawyer for the first time, it is a good idea to have some questions prepared. Some relevant questions you may want to ask include:

• What is your fee structure? Do I need to pay all fees up front or can I make payments?
• How much are bankruptcy filing fees?
• Will I be able to keep my vehicles and home?
• Which type of bankruptcy should I file?
• How long will my bankruptcy take?

Gathering paperwork and thinking about your financial goals ahead of time will help your consultation go smoothly. Our West Chester bankruptcy lawyers are happy to answer any questions you may have and give you a straightforward assessment of your options.

This blog was originally posted at https://carosella.com/blog/how-to-prepare-for-a-consultation-with-a-bankruptcy-lawyer/

How to Modify a Child Custody Order in PA

There are many reasons a parent may need to modify a child custody order. Circumstances change, and children’s needs change as they grow older. It is important to understand that child custody changes cannot be made without a mutual agreement or court intervention. Even if you and your co-parent are on the same page about changing a child custody arrangement, a new order should be issued by the court to avoid potential problems. A child custody attorney can help you understand how the process works and help to ensure your children’s best interests are always a priority.

Modifying a Custody Order by Mutual Agreement

Changing a custody arrangement by mutual agreement helps parents avoid court battles and leaves decisions about parenting time in their hands. Your family law attorney can help you negotiate the specifics of your new arrangement.  In addition to determining how your day-day parenting time schedules will work, you should include details about holidays, birthdays, and vacations. Once you and your co-parent have agreed, your lawyer can draft a legal document, have both of you sign it, and submit it to the court that originally issued your existing child custody order.

Reasons for Modifying Child Custody in Pennsylvania

If you need to go to court to modify a custody order, a judge will consider the best interests of the children first. Although courts may hesitate to modify an existing custody order if a child is thriving, there are situations in which changing an order is necessary. Some reasons a custody order may be modified include:

• Job schedule changes
• Relocation for work
• Illness or disability of either parent
• Remarriage
• New living arrangements
• The child is in danger due to domestic violence, addiction, or other problems
• One parent refuses to comply with the existing custody arrangement or denies visitation to the other

Each situation is unique, and the court will carefully consider all factors to determine what is best for the children.

Obtaining a Child Custody Modification in PA

Generally, it is best to come to a mutual agreement about child custody whenever possible. It will save you time, money, and stress and help promote an amiable relationship with your co-parent. If you and your co-parent are having a hard time coming to an agreement, mediation can be an effective way to come to a resolution without going to court.

If you need to petition the court to change an existing order, you must fill out a petition to modify custody with the court that initially handled your case. You must also submit a proposed schedule, state your reasons for requesting the modification, and explain why these changes will benefit your child. A divorce lawyer or child custody attorney can help to ensure all vital information is included in your petition and advise you of any potential roadblocks that could arise.  If you believe your child’s health, safety, or welfare is in immediate danger, a family law attorney can help you file a petition for emergency relief. Depending on the situation, a temporary order may be issued in just a few days or even hours.

Child custody issues can be complex and overwhelming. Our family law team includes some of the best child custody lawyers in West Chester, PA. We ensure your rights are protected and work toward the best possible outcome for you and your children.

This blog was originally posted at https://carosella.com/blog/how-to-modify-a-child-custody-order-in-pa/

What to Do When a Real Estate Transaction Goes Wrong

Buying and selling real estate can be exciting, but it’s not uncommon for problems to arise during a transaction. It is frustrating when you think you have made a deal and it falls through, but a real estate lawyer in PA can help you make sense of it all and ensure your rights and interests are protected.

Common Issues with Real Estate Transactions

In a perfect world, every real estate transaction would go off without a hitch. Unfortunately, this is not always the case. Some common issues and disputes that may arise include:

• Failure to disclose
• Negative inspection reports
• Low appraisals
• Lending and financing issues
• Lack of negotiability
• Missed deadlines
• Poorly defined contingencies and disclosures
• Title issues
• Liens
• Buyer’s remorse

These problems can affect the seller, buyer, realtor, broker, and banking or lending institutions. It is vital to understand the ins and outs of your real estate sales agreement and be aware of how to back out of a contract if a deal goes bad.

A Written Contract is a Must

It should go without saying that without a written contract, you could be left in the dust as a buyer or seller. Although verbal agreements are sometimes enforceable, it is much more difficult to hold someone accountable and protect our interests without a signed contract. To ensure the terms and contingencies in your real estate sales agreement are valid and legally enforceable, it is critical to have experienced real estate attorneys draft and review it.

Real Estate Attorneys Can Employ Effective Strategies for Resolving Disputes

A real estate transaction dispute can cause significant financial losses for buyers and sellers alike. Using a skilled attorney for contract review can help you avoid problems before they start. However, a good real estate lawyer will also know how to effectively develop negotiation strategies that help you find practical solutions. When a reasonable resolution cannot be reached, real estate litigation may be necessary.

Using Alternative Dispute Resolution (ADR) to Address Disputes

Mediation and arbitration are valuable conflict resolution methods that save you time and money by avoiding costly court battles. Mediation can be effective in resolving disputes involving residential real estate transactions, while commercial transactions may require arbitration.

There are some significant differences between these two ADR methods. In mediation, a neutral third party facilitates communication and negotiations between the parties in conflict but does not make any decisions about how a dispute should be resolved.

Arbitration can be legally binding or non-binding. After hearing all involved parties and reviewing documentation, an arbiter will issue a decision about how a dispute should be settled. In some cases, once issues are ironed out, parties may end up continuing on with their transaction.

Work with a Real Estate Attorney From the Beginning

Seasoned buyers and sellers may be overconfident and believe they can handle real estate transactions without the guidance of an attorney. Using real estate lawyer services from the get-go can help you avoid common pitfalls and if disputes do arise, your attorney will already be up to speed on the specifics of the situation.

Our real estate attorneys provide top-notch legal services you can trust. We help you understand each real estate transaction process step and protect your interests along the way.

This blog was originally posted at https://carosella.com/blog/what-to-do-when-a-real-estate-transaction-goes-wrong/

How Divorce Can Affect a Family Business

Dealing with divorce is challenging, and it can become even more complicated when a family business is involved. If you own a business, it is important to hire a divorce attorney who has experience handling similar cases. Understanding how a divorce can impact your business and thinking about ways to reach a fair agreement can help make the process less stressful.

Divorce Can Be a Disruption

Going through a divorce takes up a lot of your time and energy. You may have to duck out of work to meet with your family law attorney or for court appearances. In addition, you will likely be required to provide financial documentation about your company, which can also be a time-consuming distraction.

Getting an accurate business valuation is critical, but it is a complex process. A business appraiser may have to rely on some of your employees to collect documentation such as inventories, expenses, tax returns, and P&L statements. If your spouse is part of day-to-day operations and you are not on good terms, any tension or arguments can make other family members and employees feel uncomfortable.

It Can Impact Your Partners

Depending on the way your business is set up, buying out a spouse can be tricky. For example, if you decide to pay your spouse with shares of stock, how will it affect your partners if you have a smaller share in the company? What are the conditions if your spouse decides to sell the stock?

It is critical to discuss how these issues could impact your partners and the company’s stock value. If you decide to buy out your spouse, the best divorce lawyers in PA should work with you and your business attorneys to determine the best way to go about it.

Even though nobody plans on getting divorced when they are first married, this is also something you may want to address in a business succession plan to make things easier if you do split with your spouse down the road. The last thing you want is a divorce to be the demise of a business you have worked hard to build.

Options for Dealing with a Business in a Divorce

Buying out your spouse’s share. This is a common option that many couples choose. Buying out a spouse can be fairly straightforward or extremely complex, as mentioned above. If a spouse who is doing the buyout may not have enough cash or liquid assets, you may want to talk to your divorce attorney and business lawyers about setting up a settlement agreement that includes a note to be paid off over time.

Selling the business. Sometimes, selling the business and dividing the proceeds may be the best solution for everyone. However, selling a business can take a significant amount of time, which may make the divorce process longer. It is also important to consider the tax implications of selling your business. Working toward a common goal of selling the business is usually most effective when spouses are civil to each other during the process.

Staying in business with your spouse. Even if you are on the best of terms with your ex-spouse, continuing to own a business together can be challenging. Divorce is often about making a fresh start, and if you are in business together, it may be harder to move on emotionally.

Regardless of how you decide to deal with your business when splitting with your spouse, our divorce attorneys in West Chester provide the guidance and support you need to get through tough times.

This blog was originally posted at  https://carosella.com/blog/how-divorce-can-affect-a-family-business/