Once divorced, people should become accustomed to fewer financial resources. The first step on the road to adjustment should be reviewing cash flow, expenses and reserves. Few money management essentials like preparing and maintaining a budget help the divorced live within their means. Adjust to a more frugal lifestyle by limiting the use of your […]
On January 7, 2011, Governor Patrick signed into law legislation updating the personal property exemptions for debt collection. The new law increases the value of property, earnings and savings exempt from seizure during debt collection. The law replaces an antiquated version that exempted from seizure things like: $700 of equity in an automobile; and two cows, twelve […]
On December 17, 2010, a new Homestead Law was signed by the Governor in Massachusetts. This version of the Homestead Law seeks to resolve a number of issues that arose over the years regarding the prior version of the statute and in addition new benefits are provided.To understand the provisions of the new law it is […]
I recently settled a Massachusetts automobile personal injury case. In evaluating any such case it is important to examine the vital components: liability, damages and insurance coverage. Liability is responsibility for causing the accident. The question is whether someone failed to act with due care as a reasonable person would have acted, thereby causing […]
Most people realize that when an injury occurs in the course of their employment Worker’s Compensation will pay their medical bills, compensate them for lost wages lost due to a resulting inability to work, and may compensate them for loss of function of body parts and scarring on some body parts. What if the […]
Debtors filing Massachusetts Chapter 7 and Chapter 13 bankruptcy cases are frequently concerned about their children’s bank accounts and 529 college education savings plans. The question is whether these assets must be listed in the parent’s bankruptcy filing. For bank accounts, it depends on how the bank account was opened. If the bank account […]
When a debtor files a Massachusetts Chapter 7 bankruptcy there is an automatic stay that stops most collection actions, including foreclosure and eviction proceedings. Notwithstanding, the bankruptcy will protect the debtor for only a short time. Holders of mortgages that are delinquent may file motions for relief from the stay for the purpose of […]
I’m often asked whether a buyer of Massachusetts real estate should spend the money to purchase owner’s title insurance on their new home. This is a type of insurance policy protecting a homeowner when problems arise regarding their rights of ownership in their real estate. My response is the answer often lies in how […]
When a debtor files a Massachusetts Chapter 7 bankruptcy case or Chapter 13 bankruptcy case their intention as to property must be stated. If the debtor does not wish to attempt to keep property an intention to surrender the property is stated. If a debtor states an intention to surrender, the property does not […]
I want to give the subsribers to my blog advanced notice that William DiAntonio of Dollarbill911 will partcipate in the radio show “Money Matters with Scottie McCall” to be broadcast on WBNW AM 1120, WESO 970 and WPLM AM 1390, Friday, January 29, 2010 at 5:00PM. Bill will discuss elimination and control of debt, credit […]