To successfully file for bankruptcy, debtors must complete both a Credit Counseling Briefing prior to filing and a Debtor Education Course before a discharge is entered. These courses must be approved by the U.S. Trustee, and failure to file certification that these courses have been completed at the appropriate time may mean that your case is dismissed or your discharge denied. [ Read More… → ]

In some states in the country, usury laws are in place that cap or limit the amount of interest that can be charged on certain loans or indebtedness. (Usury is charging a price for credit that exceeds the limits set by law.) For example, the state of Ohio currently limits interest rates to 21% on personal loans made in that state.

However, 26 states have no limit in place on what a bank or credit card company can charge for interest rates on card accounts, according to the American Bankers Association. [ Read More… → ]

The common perception is correct that, in most common cases, assets transfer first to the surviving spouse and then in equal percentage to the children if no spouse is surviving.

But there are a number of benefits to creating a Will, especially given the low cost and ease to do so. [ Read More… → ]

The content of the legal forms is the product we sell. Standard Legal — and any other legitimate legal forms software company — cannot provide product to the public prior to purchase simply because there is no way to protect any type of written content in any commonly-used digital format from copy and use after it is provided. [ Read More… → ]

The “statute of limitations” is a time period set by state law after which one can no longer bring a claim against another person – it is a “time limit” in essence.  If your state’s statute of limitations on a contract or an account with the credit card company is, for example, ten years, the attorney attempting to collect the debt can no longer pursue your mother for this debt (or cannot, at least, file a lawsuit against her to collect the money). [ Read More… → ]

Typically, the title of an asset should be transferred from the individual owner’s name(s) to the names of the Trustee of the Trust. [ Read More… → ]

Under federal bankruptcy law, once a person files a case, creditors are “stayed” from taking any action to collect on their debt.  As long as your Chapter 13 plan is confirmed by the Bankruptcy Court and you make both your Chapter 13 plan payments and your current mortgage payments, the mortgage holder should not be permitted to take any action to foreclose on your home. [ Read More… → ]

Yes! Pro se filers must make the Bankruptcy Court aware of all assets and asset transfers or sales. [ Read More… → ]

Credit scores are not law-related in any way, and as such Standard Legal cannot offer a response. [ Read More… → ]

Precedence between a Deed and a Will depends upon how title to the property is held at the time of the death. But in general, ownership is dictated by a properly filed and recorded deed. [ Read More… → ]

Assuming that you are creating a new Living Trust with the intent of replacing your existing one (i.e., you are not creating a second trust funded with assets not covered previously), the new Trust documents would supersede and take precedence over the existing documents. [ Read More… → ]

Standard Legal offers Legal Document Preparation Service for nearly all of the titles it produces as self-help legal forms software. However, there are some exceptions — and good reasons behind those exceptions. [ Read More… → ]

A Premarital Agreement is not filed with the Court or any government agency; it is a contractual document between the prospective husband and wife. [ Read More… → ]

Whether or not you can “keep” your IRA after a Chapter 7 Bankruptcy filing depends upon which state you live in and whether or not your state offers an exemption for IRA accounts. [ Read More… → ]

The answer depends exclusively upon how you wish to have your trust identified.

In most instances, you are permitted to obtain a federal tax ID number for your Trust, but said number may not be required, depending on how the trust will be taxed. [ Read More… → ]

A Last Will & Testament cannot create a binding “Life Estate” in real property, as it is not a deed.

Life Estates are created by transferring certain interests in a real property via a deed (i.e. a deed to a third party which retains a life estate in the grantor).

While a Last Will and Testament can certainly provide notice of the deceased person’s desires or intentions [ Read More… → ]

Without addressing issues regarding the transfer between family members or what may or may not have been “intended”, once a deed is signed and filed with the appropriate county land office, the property is deemed transferred. [ Read More… → ]

The consideration required in this question simply has too many variables to provide a “stock” answer. [ Read More… → ]

Why pay big money to ask a simple question? Standard Legal knows the economy is tough, and has created a way for anyone to submit a question for free through a newly-launched service called ‘Ask Standard Legal’. [ Read More… → ]