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June 2016 Archives

Chapter 7 bankruptcy on the rise for energy sector workers

Many Ohio residents support a move away from "traditional" sources of energy production in favor of greener options. As such, the gas, coal and oil industries have entered a decline. That shift, while perhaps better for the planet as a whole, has caused a great deal of turmoil for families who have lost their source of income. Many of those affected by this shift have had to seek Chapter 7 bankruptcy in an attempt to regain their financial footing.

Why so many athletes eventually seek Chapter 7 bankruptcy

Many Ohio residents are aware of the enormous salaries earned by the nation's top athletes. While quite a few people envy those levels of income, not many are sympathetic when an athlete faces financial ruin. It is interesting to take a closer look at why so many professional athletes end up filing for Chapter 7 bankruptcy. The reasons may come as a surprise, due to the fact that they are not vastly different from the reasons why many average earners find themselves in the same financial position.

Intense estate planning litigation surrounds Sumner Redstone

A great deal of media attention in Ohio and across the nation has centered on Sumner Redstone, an aging media mogul who is worth an estimated $5 billion. One lawsuit aimed at gaining access to a portion of Redstone's fortune was recently dismissed, but a new legal challenge is just getting started. As the physical and mental health of the billionaire declines, several parties are trying to gain control over his vast fortune by attacking his existing estate planning measures.

Marriage alone is not a solid estate planning approach

There are a great many Ohio families in which the spouses intend to leave all of their assets to each other in the event of death. In many cases, both parties feel that they have worked hard to amass their wealth and that the fruits of that labor belong solely to their partner. Unfortunately, many are unaware of the best way to ensure that outcome, and they make the mistake of assuming that marriage is sufficient estate planning all on its own.

Ohio Supreme Court: Sex offender termination provisions not retroactive

In 2008, state lawmakers replaced Ohio's Megan's law with the Adam Walsh Act. While both of these bills outlined the laws regarding sex offender registration, they had one key difference: the Adam Walsh Act gave certain offenders the chance to terminate their sex offender registration duties.

College marijuana use and legal risks under Ohio law

It is no secret that marijuana use is fairly common on college and university campuses in Ohio and across the country. College students can sometimes feel immune from negative consequences, but Ohio law imposes serious consequences for anyone convicted of marijuana-associated crimes like possession or driving under the influence of drugs.

Is your estate planning safely stored and accessible?

Although thoughts of death are not something one wants to linger on, it is a reality. Ohio residents may recognize the importance of organizing important documents and storing them in a manner that will be readily accessible to surviving family members in the event of an unexpected death. There are multiple storage options for estate planning documents, including the traditional way of keeping them in a safe or the modern way of storing them in a cloud.

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