July 26, 2017

Gain Financial Freedom in your Pursuit of Happiness!

Great_Seal_of_the_United_States_(obverse)_svg

Every year I re-read the Declaration of Independence and meditate on the amazing freedoms I enjoy (and sometimes admittedly, take for granted). This year I have been studying the history of Bankruptcy in America and came across this wonderful book called Republic of Debtors: Bankruptcy in the Age of American Independence by Bruce H. Mann.

untitled

After reading a bit of this book, I realized how incredibility blessed we are to have the laws that allow us to file Bankruptcy with ease of process, and without judgment or fear. It wasn’t always that way and not everyone who suffered from crushing debt was given that second chance. It took years and a lot of legislation to get the laws where they are today; the laws that protect debtors from their creditors.

untitledbooks

I believe the secret to happiness is the freedom of choice. When you choose to take the first step to get out of debt you begin on the road to financial freedom. Bankruptcy will help you keep your home, relieve you of unsecured debt, keep your utilities on and give you the freedom to start over. It was the best thing that ever happened to me (read my personal Bankruptcy story here) and was my own declaration of independence.

We’re Moving!

We are packing up and moving down the street…

untitled

…to 50 Cherry Street, Milford, CT 06460.

untitled2

The new office will be open for business on February 1, 2017.  To schedule a free consultation, please call us at 203-713-8877.  Thank you!

My Gift to You and Yours!

 

Everyone over the age of 18, especially parents of young children, need a simple Will, Living Will and Power of Attorney (these documents together are formally called an “Estate Plan”).

Estate Planning can be given as a gift to others and/or it makes a great New Year’s Resolution for yourself.

As a mother, and an attorney, the importance of planning for the future is at the top of my list!

Therefore, my gift to you this holiday season is 25% off all estate planning packages for the month of January 2017.  Please feel free to share this with your friends and family.

The process of making an Estate Plan is as easy as 1-2-3: First we talk, then I create the documents and lastly, you come in to visit me and sign them.

To arrange a free consultation in person or over the phone, call our office at 203-713-8877.

Have a Safe and Happy Holiday!

With much love & gratitude,
Theresa Rose DeGray
Attorney at Law

PS: Stay tuned for lots of exciting announcements, information, seminars, videos, blogs and much more in 2017!

l-o-g-o

Minimum Continuing Legal Education (MCLE)

Notice to All Members of the Connecticut Bar and Authorized House Counsel

mcle

Effective January 1, 2017, new Connecticut Practice Book Section 2-27A will require, with certain exceptions set forth in the rule, all members of the Connecticut Bar and attorneys certified to be Authorized House Counsel (AHC) in Connecticut to complete a minimum of twelve hours of continuing legal education each year, at least two hours of which shall be in ethics and professionalism.  Certification of compliance with the MCLE requirement will be done during the following year’s online registration process (e.g. the attorney or AHC will certify his or her 2017 compliance when registering in 2018).

The Commission on Minimum Continuing Legal Education has been established to aid attorneys and AHCs in understanding the rule and complying with it.  The Judicial Branch has also established a dedicated MCLE website at http://www.jud.ct.gov/MCLE/, where attorneys and AHCs can view the MCLE rule, FAQs developed by the Commission, forms, and a videotaped seminar conducted on November 7, 2016 regarding MCLE.  An attorney or AHC who watches the videotaped seminar may take 1.5 hours of MCLE credit in ethics/professionalism that can be carried over to the attorney’s or AHC’s 2017 twelve hour MCLE requirement.

Unlike many other states, Connecticut does not certify courses or providers. Connecticut lawyers are urged to independently review Practice Book §2-27A and make their own determination that a course qualifies for credit towards their MCLE requirement taking into consideration the delivery and content requirements of the rule.  If a course has been approved for CLE credit in another jurisdiction, then it automatically meets the content and delivery requirements in Connecticut, subject to the caveat that credit hours are awarded in Connecticut based on “actual instruction time” (e.g., 60 minutes of instruction time equals one credit hour of Connecticut CLE).

If after visiting the MCLE website and reviewing the information provided there, an attorney or AHC has a question about the MCLE rule, the attorney or AHC may contact the Commission at MCLE@jud.ct.gov for further information.

3 Essential Tips for Hiring the Best Probate Lawyer

Last week, I talked about some of the benefits of hiring a probate attorney. If you’re sold on the idea of hiring a probate attorney to help you through the Will or probate process, but you’re not sure how to go about hiring the best attorney, this post is for you! I’ve come up with some great tips to follow when hiring a probate lawyer that will ensure that you find the best probate lawyer for you.

  1. Ask the right questions. Once you have a few free consultations set up, you want to ask the right questions during these consultations, to make sure that you fully understand the attorney’s qualifications. Ask questions such as:
  2. Find lawyers that offer free consultations. If you’re like me, you don’t like making impulse buys. You want to do your research and figure out who the best attorney is for you. The good news is that you can actually do this! If you find lawyers that offer free consultations, you can meet with several lawyers before deciding which one you want to retain. At no cost to you, you can get your questions answered and get a feel for the lawyer you’re meeting with and decide if you want to retain that lawyer or not.
    • How long have you been a probate lawyer? You want to find a lawyer that has experience in the field so that you know he or she has worked with cases similar to yours. Experience can make a lawyer a valuable asset.
    • Do you have any client testimonials? Client testimonials, whether on file or on a website, can give you the information that you need from people who have been in your shoes. If you see reviews from many satisfied customers, the lawyer is probably effective and efficient.
    • What would you do in _____ situation? Test out a situation and see how the lawyer responds. Especially if there are uncommon aspects to your probate process or Will, see how the lawyer would handle that situation.
    • What do you charge? If the attorney beats around the bush or won’t give you a straight answer, they might have hidden fees. If a lawyer is upfront and honest about their fees, you can probably trust the quote that they give you.
  3. Check out the reputation. Client testimonials are great ways to get a feel for customer satisfaction, but they’re not the only way. Sometimes, lawyers will only show you the best reviews that they get, not necessarily the reviews that give the most accurate picture of customer satisfaction. For this reason, you should consider asking friends or coworkers for suggestions of probate lawyers that they have used in the past. This feedback will probably be honest and it will come from people that you can trust.

Finding the right probate lawyer can be a difficult process, but it doesn’t have to be! If you follow these tips, you will be able to find the right lawyer for you! To set up your FREE consultation with me, click here!

5 Must-Read Tips for Creating Your Will

Creating your Will is probably not an exciting experience. Facing your mortality and the task of splitting up your assets can seem depressing, however, it is an extremely necessary thing to do to ensure that in the event of an accident your family will be provided for and your wishes can be carried out. Here is a list of 5 things to keep in mind when drafting your Will so that you can avoid some common mistakes.

  1. Don’t forget the executor and a backup executor. The executor of your Will is very important, as he or she will distribute your assets and be in charge of your estate after you pass. Don’t leave this job up to chance – you should carefully decide who you want to take on this role. To be safe, you should also appoint a backup executor to make sure that you will have someone you trust representing your interests no matter what. For help determining your executor or executors, you should check out this post.
  2. Specify your beneficiaries. You should be clear about who you are leaving what in your Will. For example, if you have several children, specify by name who will receive what aspects. Also consider the fact that “children” can be confused with godchildren or stepchildren once you are gone. Be as specific as possible when naming your beneficiaries so that there will be no confusion in the future. Also, if you specifically leave someone out of your Will, such as a child or spouse, you might want to include the reason why so that the executor doesn’t assume that this is a mistake and name these people as beneficiaries anyway.
  3. Update your Will. Things change over time. It is important that you update your Will to include new children and assets or to remove people such as an ex-spouse. When you experience any major life change – whether personal or financial – you should update your Will.
  4. Provide for the “what-ifs”. Consider situations such as a beneficiary dying or unexpected debt that has to be taken care of. Including these scenarios will ensure that executing your Will goes as planned.
  5. Don’t forget about the IRS. You shouldn’t necessarily assume that your estate won’t be a part of the estate tax system. You should provide for this possibility when writing your Will.

While drafting a Will is not necessarily a cheerful event, it is necessary. Your Will is an important document because you can’t be sure of how long you will live or how people will interpret your assets after your death. If you have wishes as to how your assets will be divided, you shouldn’t take any chances. Write them down in your Will and make sure that your beneficiaries get what they deserve. For help drafting your Will, you should look to a lawyer. Lawyers have experience with Wills and will probably think of important aspects of the Will that you might forget. Having some guidance in this process can ensure that everything goes smoothly. For help drafting your Will, you can contact me here.

Back To School Shopping On A Budget

Back to school shopping is no doubt a pain for all parents. If you’re watching your finances, school supply shopping can be even more difficult. However, back to school shopping on a budget can be a breeze if you do it right. Below are some tips every parent should incorporate into their August-September back to school shopping for their children.

  • Set a budget. Go into the back to school shopping season with a specific budget. Let your children know what the overall budget is and that there will be no going over it.
  • Make a list! Get a list of supplies that your children need from each of their teachers. Before you go out and purchase everything, go through your home and look for things you may be able to cross off the list. Look at what school supplies your children have left from the previous year and what things you may be able to reuse. Also separate the list into needs and wants. Get all of the essentials for your child and in order to keep under budget, consider skipping some of the “wants” on the list.
  • Don’t go right to Staples for your child’s school supplies. Get things like pencils and pens from your local Dollar Store.
  • Buy your child a bookbag that will last! Brands like L.L Bean and Jansport have a lifetime guarantee on all their bags so buy one that your child can use year after year so you will definitely get your money’s worth.
  • Reuse! Buy your children plastic folders instead of cardboard and such. The plastic will be reusable for years after the purchase as long as your children take care of them.
  • Look through your children’s closet and see exactly what they need so you may plan ahead. Avoid shopping in August for clothes. If you can, wait until mid September or around that time in order to hit the sales that go on after stores think that everyone in town has already completed their back to school shopping. Alternatively, your family can go clothing shopping for fall clothes at the beginning of the summer in order to take advantage of some deals.
  • Try shopping at local thrift stores or outlet malls. Some thrift stores sell name brands for cheap and outlets always have good deals on clothes and shoes.

 

Back to school shopping no longer needs to be a dreadful, money-sucking event that happens at the end of every summer. If you use these helpful tips, you will succeed in getting all the supplies your children need, but also stay well under your budget.

5 Ways To Save Money At A Carnival

Carnivals are a place that families go in order to have a fun night out together. With no admission fees to most carnivals or fairs, some people have the impression that they are inexpensive. Although, unfortunately, that is not always the case with these game-filled and ride oriented affairs. The cost of food, games, and rides most certainly adds up and your so-called “inexpensive” family night out has run your credit card the same amount of money as a five star dinner for two. Below are five ways to save money on a trip to the carnival.

  1. Allot one treat per child. Instead of spending over $100 on food at the carnival, talk to all of your children in advance and let them know that they are entitled to one treat and one treat only while at the fair. Treats such as funnel cakes, candy, popcorn, corn dogs, and things of that nature are so expensive at carnivals so be sure to bring snacks and drinks with you. Take things from your own home such as water, juice boxes, granola bars, and chips to snack on so your children’s one allotted snack each fills them up.
  2. Take a look at the fair or carnival’s website before you go to check for any deals that may be available. Sometimes there are coupons and discounts for rides only available online that are not advertised. You will never know that discounts and such were available unless you look for them!
  3. Think hard about souvenirs. Do you really need that $15 souvenir cup with free refills? No one needs that much soda in one day.
  4. Scope out the parking situation before the day of the carnival. On-site parking can be costly, but definitely more convenient. Alternatively, if you are looking to save money, maybe find an off-site parking lot that will most likely be much cheaper. Sure, you and your family may have to walk a little bit, but the money you will save will be well worth it.
  5. Limit the rides. Rides can be very expensive at fairs and may run anywhere from $4 to $9 each. Tell your children before even getting to the fair to choose their rides wisely because each child will only be able to pick two or three to go on.

Carnivals can be a fun filled family day, but if you do not plan your trip wisely, they can be quite costly. Check online for coupons and discounts that you may be able to use. Have a talk with your children and let them know that this day trip will not be a free for all. The children will be allotted a certain amount of rides and food choices each. Also think wisely about what souvenirs you buy. If there is a possibility you can get a souvenir somewhere else, it would be best not to buy it at a carnival for a more expensive price. Use these money saving tips above in order to have a fun money-saving family day!

Estate Planning & Identity Theft Seminar | Thursday, April 28, 2016 | Stamford, CT

FCBA SEMINAR

How To Get A Credit Card If You Have Bad Credit

It’s a bit of a catch-22, isn’t it? In order to build your credit, you need to have and use a credit card. But in order to qualify for many credit cards, you need to have good credit. What are you supposed to do when you know that your credit is bad, and you fear that you won’t be able to get a credit card and bring up your credit score? Luckily, all is not lost! You can still qualify for many credit cards even if you have a low credit score. Just follow these tips on getting a credit card with bad credit.

  1. Find out your credit score. You might have a rough idea of what your credit score is, but you won’t be able to truly determine what credit cards you should and should not apply for until you know your credit score. You can get a free credit score report online. Once you know your score, you can plan accordingly.
  2. Know what you qualify for. If your credit score is 600 or above, you will probably be able to qualify for an unsecured credit card. If your credit score is below 600, you will most likely only qualify for a secured credit card. A secured credit card will require that you have the equivalent of your card’s limit available to the card issuer. An unsecured credit card doesn’t carry this requirement.
  3. Shop around. Just because you have a low credit score does not mean that you should be paying outrageous interest and fees. Do some research to determine what the most practical, reasonable credit card is for you. Make sure that you also find a credit card that comes from a reputable bank. Avoid credit cards that have high interest rates, don’t offer a grace period for interest, and that have expensive monthly fees.
  4. When you find the card you want, apply for that card only. You should apply for credit cards one at a time. If you have poor credit, you don’t want to be juggling multiple credit cards. If you are approved for your first choice, stick with this card. If you are denied, apply for your second choice.
  5. When you get a credit card, make your payments responsibly. If you are approved for a credit card, don’t make the company regret accepting your application! Make sure that you make all of your payments on time and that you do not overextend your line of credit. With online payments and credit card apps for phones, staying on top of your credit card has never been easier!

These are my top tips for getting a credit card, even if your credit is less than perfect. For additional advice to help you improve your credit, you can contact me here. I am happy to discuss your situation during a free consultation!

This firm is a debt relief agency. We help people file for bankruptcy relief amongst other things, under the Bankruptcy Code.