Thomas F. Miles, Attorney and Counselor at Law
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August 2017 Archives

When should you file for Chapter 7 bankruptcy over Chapter 13?

Dealing with financial problems is anything but easy. While these times can be minor, other individuals and families in California are dealing with the devastating reality of increasing debt problems. In order to keep their head above water and avoid the risk of losing their home and other assets and property, seeking debt relief is the best option. This can come in various forms, but the two most common ways for a consumer to address their debts is by filing for a Chapter 7 or Chapter 13 bankruptcy.

Ways to address the foreclosure process

Going through the process of locating a buying a home can be a lengthy and overwhelming process; however, it is has the end result of providing a homebuyer with the house of their dreams. Sadly, some homeowners in San Diego and other cities across the nation experience financial hardships. These hardships can make it difficult to make timely mortgage payments. When this occurs, individuals and families could face the unfortunate fate of losing their home to the foreclosure process.

Helping you prevent the foreclosure process

Owning a home is part of the American dream. Thus, when this goal is achieved, it is something that they do not want to lose. Unfortunately, life comes with its many ups and downs, causing some life challenges. And when these challenges are financial, it can make it difficult or impossible to pay a mortgage on time. Failing to keep up with payments could result in a foreclosure of your home; however, homeowners should understand they have options available to them.

What are the common mistakes made during estate planning?

As baby boomers age, they need to take the time to consider what their life after retirement will look like. While retirement is often a timeframe used to start drafting an estate plan, this is by no means a set time to take such measures. In fact, initiating the estate planning process sooner if often advised because we can never predict what the future might look like or what it might hold. And while individuals in California and elsewhere might think they understand what it takes to complete their estate plan, there are various obstacles to be on the lookout for.

Understanding the basics of an estate plan

Drafting an estate plan is more than just preparing for what will happen at your death. It helps articulate your wishes to your family members and beneficiaries in case you become incapacitated or suddenly die in an accident. Thus, estate planning is not only for the elderly. No matter your age, drafting an estate plan could be a very vital step to take.

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Thomas F. Miles, Attorney and Counselor at Law
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El Cajon, CA 92020

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