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Little Rock Legal Blog

Younger couples value grandparents' advice, role re the kids

If you're a grandparent in Arkansas or elsewhere who is wondering whether you will play a routine and meaningful role in the lives of your grandchildren, take heart from the Millennial Connections study.

That survey sampling of more than 1,000 parents and caregivers of that generation (you might reasonably think of individuals from approximately 21-37 years old here) revealed a very encouraging piece of information for grandparents.

Step 1 in bankruptcy: Take the Arkansas means test

Adobe Robertson12.jpegIf your debts have piled up, filing for bankruptcy might be your best option. Two of the most common types of personal bankruptcy are Chapter 7 and Chapter 13. To determine which you qualify for, you need to take the Arkansas means test.

In Chapter 7 bankruptcy, your assets (minus your home, car and some private possessions) are liquidated to pay off your creditors. In Chapter 13 bankruptcy, you are put on a payment schedule - usually three to five years - to pay back your debts. The key to determining which applies to you is the means test measuring your income against the median income in Arkansas.

Elephant in the room: rising debt woes for many older Americans

Economic challenges and financial stress are realities tightly tied to America’s younger generations.

And that is only logical, right? It makes sense that many individuals just leaving school and/or embarking on a career must often deal for a time – sometimes years-- with money-linked pressures. Student loans are a material nemesis for many. Housing costs can unduly strain budgets. Starting a family is expensive. And so on.

High-profile divorce case underscores a common dissolution concern

Maybe you don't have an original Picasso painting hanging in the living room.

What does adorn your walls, though, or otherwise qualifies as an asset you hold dear, might command just as much value to you personally as does a high-value art collection for a fabulously wealthy individual or family.

Why your carefully crafted estate plan requires periodic scrutiny

If you recently finished a good-faith spurt of proactivity by finalizing an estate plan that you know is comprehensive and makes great sense for your family, congratulations. You’re likely feeling a bit buoyed. With the help of a seasoned estate administration attorney, you’ve addressed and taken responsive actions concerning a number of key planning considerations.

A writer we referenced in a recent blog post duly notes the multiple concerns that feature in most estate plans in Arkansas and elsewhere. We noted in our Robertson, Oswalt & Associates December 27 entry financial author/editor Bob Carlson’s observation that “many estate plans respond to key family goals across a truly wide spectrum of concerns.”

Once completed, a sound estate plan is a done deal, right?

Many Arkansas residents and other Americans across the country only first discover the truly broad-based utility of estate planning when they engage in a candid and comprehensive discussion with a proven estate administration attorney.

And here is why: Although legions of people know that drafting a will is a core planning objective, many of those individuals do not as keenly appreciate that tailored planning also typically addresses many other fundamentally important matters. We duly note on our website at the Little Rock estate planning law firm of Robertson, Oswalt & Associates that, “There is much more to [the process] than simply drafting documents.”

How to Save a Child from Foster Care.

Arkansas Department of Human Services (DHS) will take custody of a child any time the agency believes there is a situation in which, if the child remains with the parents, his or her health or physical well-being will be in immediate danger. Unfortunately, once DHS takes custody of a child, DHS's first inclination is often to place the child in foster care, instead of with a relative. As we all know, the foster care system in Arkansas is not an ideal place for our children, for many reasons.

A QDRO’s central relevance for some divorcing Arkansas parties

“Splitting financial worlds.”

That is a reference we make on Robertson, Oswalt & Associates’ family law website to what a key aspect of the dissolution process can seem like for many divorcing Arkansas couples.

Robertson, Oswalt & AssociatesOffice locations

Little Rock Office
1302 Cumberland Street
Little Rock, AR 72202

Toll Free: 866-311-3815
Phone: 501-588-4451
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Benton Office
17724 I-30, Suite 8
Benton, AR 72019

Toll Free: 866-311-3815
Phone: 501-588-4451
Benton Law Office Map

Heber Springs Office
307 West Spring Street
Heber Springs, AR 72543

Toll Free: 866-311-3815
Phone: 501-588-4451
Heber Springs Law Office Map

Conway Office
1237 Front Street
Conway, AR 72032

Toll Free: 866-311-3815
Phone: 501-588-4451
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