Displaying items by tag: Tips

Estate Planning Tips

Estate planning is the process of making a plan of who will get which of your assets when you pass on. Regardless of the size of your estate, you need to have this plan in place.

 

Following these tips will help you in your process of planning your estate.

 

State Who Gets What

Set time aside to put in place a will. f you do not have a will in place, laws will determine who inherits your assets. This includes nonfinancial assets that might be important to you and your family members. A will also allows you to name a guardian for your children should something happen to both parents.

 

Choose How Money Should Be Spent

If you are planning to have certain assets cover specific expenses, then you should create trusts for those. The trustees of these accounts will be obligated to spend that money to cover those expenses that you declared.

 

Select a Qualified Executor for Your Estate

An executor is responsible for paying off your debts and distributing your assets according to your will. The most obvious choice would be your oldest child or spouse, but make sure you choose someone you trust.

 

Make Certain Family members Know About Important Documents

Prepare a list that shows where important documents are kept. Let family members know about this list. If they are kept hidden in a safe, make sure they know about the code.

How to Rebuild a Bad Credit Score

Did you know that negative credit reports could stay on your record for 7 years? That’s a scary thought for those with a bad credit score. However, if you do have negatives on your report, the best thing you can do is to start adding as many positives as you can and pay off as much debt as you can. 

 

 

Below are some ideas from our Provo Bankruptcy Attorneys of what you can do to start repairing your credit score:

 

 

  • One of the most important things you can do is to pay your bills on time. This seems simple, but it helps more than you know. You can use automatic bill pay or set up payment reminders.

 

  • Keep all of your accounts in good standing.

 

  • Lower your debt/credit ratio.

 

  • Mistakes are sometimes made on credit reports. In order to manage these, check your report at least once a year.

 

  • If you are unable to pay all of your bills, cut out unnecessary expenses, sell items, or do other things to make more money.

 

  • Closing accounts will drop your credit score significantly.

 

 

  • Don’t use credit cards that you don’t know how to pay off.

Bankruptcy Advice From Our Provo Bankruptcy Attorneys

Many people these days that are facing towering amounts of debt, think that filing for bankruptcy is their one and only option. Our Provo Bankruptcy Attorneys advice recommends becoming aware of the challenges that bankruptcy creates before they make a decision.

 

Bankruptcy is not going to be helpful for everyone. The American Bankruptcy Institute recommends that bankruptcy be an option for people who:

-       Have debt collections calling at their home or work.

-       Have lawsuits filed against them.

-       Have had their bank accounts frozen after judgments.

-       Have most of their debts in unsecured loans, such as medical bills or credit cards.

 

Our Provo Bankruptcy Attorneys offer the following advice for those thinking of filing for bankruptcy:

 

1. Evaluate your finances. Figure out what your total debts are. Look into what caused your financial problem and create a plan to how it can be avoided in the future.

 

2. Get your free credit report. Most people think that because creditors have stopped calling, that they no longer have any debts on their record to pay. This is a mistake. If you do not include all creditors on your bankruptcy filing, you could go through the entire process and still owe thousands in debt. Go to www.annualcreditreport.com to get an accurate list of all creditors you owe.

 

3. Inform ALL debt collectors and creditors. The Bankruptcy Law requires that all debt collectors must cease to try to reach you once a bankruptcy petition is filed.

 

4. Get your credit-counseling certificate. In order to file for bankruptcy, you first need to obtain a certificate that you have successfully completed credit counseling. If you do not get the certificate in time, it could cause delays, so don’t wait!

 

5. Get a Bankruptcy Attorney. Bankruptcy Laws are so complex, that it can be risky to file for bankruptcy on your own. Consult with a bankruptcy lawyer to make sure this is the right decision for you.

PREVENTING TRUCK CRASHES: HOW TO AVOID COLLIDING WITH A TRACTOR-TRAILER

Over 15 million trucks operate on U.S. highways, of which about 2 million are tractor-trailers. Class 8 trucks alone, which include all tractor-trailers, logged nearly 140 billion miles in 2006. Given the large number of rigs being operated and the many miles driven, accidents are inevitable.

According to the Federal Motor Carrier Safety Administration, large trucks were involved in over 270,000 crashes in 2011, resulting in more than 3,700 deaths and 88,000 injuries. The National Highway Traffic Safety Administration found that, of the deaths, 72 percent were occupants of the other vehicle involved in the crash, usually a passenger car. Only 17 percent were occupants of the truck. Avoiding a collision with a tractor-trailer truck in the first place is therefore the best course of action.

Tips for Avoiding Collisions with Tractor-Trailers

State Farm Insurance advises motorists to take the following steps to avoid colliding with a tractor-trailer:

Stay out of the truck’s blind spots, or “no zones,” located at the rear and side of the truck, and at the connecting point between the tractor and trailer (as a rule of thumb, “if you can’t see the driver in his side mirror, he can’t see you”)

Give a tractor-trailer making a turn a wide berth to avoid getting caught in its blind spot

Keep a safe distance behind a tractor-trailer, which is between 20 and 25 car lengths

Allow even more distance behind a tractor-trailer on uphill climbs and in adverse climate conditions, such as snow, rain and high winds

Always use turn signals when passing a rig

In an emergency pull completely off the road, place flares or hazard lights at both ends to warn approaching traffic, and then move as far away from your vehicle as possible

What Not To Do When Driving on Highways with Tractor-Trailer Traffic

The National Driving School of Taylorsville, Utah, and State Farm recommend that motorists avoid the following actions while driving around large trucks, including tractor-trailers:

Never cut off a truck in traffic or on the highway, even if you have to miss your exit or turn

Do not change lanes abruptly

Do not linger alongside a truck while passing

Do not speed

Never follow a truck too closely or tailgate

Never underestimate the size and speed of an approaching tractor-trailer

Most of these recommendations simply require obeying the rules of the road. Violation of these safety rules is negligence per se, meaning proof of the violation is all that is required to show the driver’s negligence. Drivers should not open themselves up to legal liability by violating traffic laws, much less invite personal danger to themselves.

What If I Am In An Accident With A Tractor-Trailer?

As the above statistics show, collisions of tractor-trailers and other heavy trucks with passenger cars frequently result in death or serious injury to the car’s occupants. If you are injured in a truck accident, or if you lose a loved one in a truck crash, contact an experienced, truck accident attorney, who can obtain full and fair compensation for your injuries or loss.

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