Article 10
Bankruptcy

Bankruptcy has two objectives: To relieve a debtor of financial obligations, and to arrange a fair distribution of assets among creditors.

Bankruptcy is handled in the United States Bankruptcy Court which is located in Toledo, Ohio, although routine matters are usually conducted in Lima.

Most bankruptcies fall under one of three chapters of the Bankruptcy Code. The first is a Chapter 7 which discharges all but a few categories of debts and obligations of the debtor. Certain property is exempt and is allowed to be kept by the debtor. These may include a car, house, personal effects, clothing, household goods, some money and other necessities. Chapter 13 is a personal bankruptcy which establishes a schedule under which all or some of the debt is repaid. Chapter 11 bankruptcy allows a going business to continue while the court protects it from a creditor's legal proceedings.

Bankruptcy is a serious move that may have long term effects on you personally. You should investigate alternatives to bankruptcy before proceeding.

Article 9
Auto Accidents

If you are the victim of an automobile accident, correct actions after an automobile accident can save you time, money and unnecessary legal expenses. These tips will help you to act correctly after an auto accident.

Although it is as a rule important to wait long enough to fully comprehend the extent of your injuries before settling, there are time periods provided by law within which you must bring suit for legal remedies. These periods vary from the type of injury to the age and status of the injured person. Consequently, it is important not to believe that you have an unlimited amount of time to bring legal action if a voluntary settlement is not possible.

It is also important to remember that Ohio Law requires automobile insurance companies to offer Underinsured Motorist coverage, and this can be an additional source of compensation if the responsible parties are without adequate insurance. Hereto, your insurance company has certain rights which must be protected if you are to successfully make a claim for your Underinsured Motorist coverage. Consulting an attorney about exercising these rights is highly recommended.

Article 8
Divorce, Dissolution or Legal Separation

Ohio law provides three basic ways to legally alter a marriage; divorce, dissolution and legal separation.

Legal separation is the least common method. In it, the court will divide the assets and debts of the marriage and will allocate the parental rights and responsibilities for any minor children, but the parties remain legally married and cannot remarry.

In a dissolution, the husband and wife agree on the division of the assets and debts and on how they want to allocate the parental rights and responsibilities in advance of any court involvement. One party's attorney will prepare a Separation Agreement that will be attached to the Petition and filed with the court.

In a divorce, one party sues the other by filing a Complaint for Divorce. The Complaint must allege grounds for divorce. The case will proceed as any other civil litigation, and the court will decide the division of the parties' assets and debts and the allocation of parental rights.

The ending of a marriage is an unfortunate event, but one in which long term consequences occur. The need for effective legal representation is a must.

Article 7
Jury Duty

Many people dread receiving the notice to appear for jury duty. Yet the citizens of Auglaize County have an outstanding record of fulfilling their responsibility by serving when asked. Sadly, that is not true in other Ohio counties or throughout the nation.

Trial by a jury of your peers is an essential element of our democracy. It prevents an all too powerful government from dominating the judicial system. If the Federal and State governments appointed Judges to directly hear the facts of a case and dispense justice by themselves, no checks and balances would exist for the fairness of any given situation. A jury of impartial citizens may decide the outcome of a case much differently than a single individual, no matter how highly trained or qualified.

Serving on a jury is a contribution to your community and can be an enlightening look at how our government works. It has been our experience at Noble, Montague and Moul that most people enjoy their service as jurors and find it a rewarding experience.

Article 6
Estate Planning Your Will - #2

There are several important reasons to have a will which have nothing to do with the issue of "who gets what."

One deals with the administration of an estate. In your will you have the right to name the person who will be in charge of the administration of your estate.

This is the executor. The executor is the person who inventories, sells or distributes the property to the persons named in the will and pays the estate debts. The executor must make a report of their activities to the Probate Court. It is very important that the will give the executor the appropriate powers.

Also generally the will may waive the requirement that an executor post a bond. This alone can save the estate the equivalent cost of the will.

Article 5
Estate Planning Your Will - #1

The primary function of a will is to create a legal document which states who will receive your property at the time of your death. If you die without a will, your property will pass as determined by Ohio law. This is under a "one size fits all" plan and may not fit your particular situation.

Here are some reasons that the general plan of inheritance under Ohio law may not be appropriate:

1. You have minor children and want to delay their inheritance until they finish school or are simply older.
2. You have children or other relatives with special needs.
3. You want to make a gift to your favorite charity.
4. You have a special piece of property you want to go to someone.
5. You want to make a bequest to a person who is not a relative.
6. You want to exclude certain relatives from inheriting.
7. You want to add special conditions to a gift.
8. You want to forgive a debt.

Give us a call if you have questions about your need for estate planning

Article 3
Income Taxes

The season is once again upon us to be preparing our annual income tax returns. The folks in Washington want to hear from single non-dependent adults who have income of $7,200. If you are 65 or older a single individual should file a return if they have income exceeding $8,300. A married couple should file if they have income exceeding $12,900.

The State of Ohio requires a return be filed if your federal adjusted gross income was $4,200 or more unless the retirement credit, dependency exemption, or senior citizen credit reduces your tax to zero.

Most local cities and villages require a return be filed if you have any income from wages or rents. If you work in one town and live in another, be sure that the amount withheld matches your tax since the various towns may have different tax rates. If you work outside of the city limits of a town, but live in a town, you may not have any money withheld but still owe tax. Just because you are fully withheld at work doesn't mean you don't need to file a return.

If you receive a local tax form but don't think you owe tax, call the tax department and inquire. A little time spent checking your obligation could save you time and money in the future. If you have any questions about income taxes, or we can help you prepare your returns, give us a call.

Article 2
Transfer on Death Deeds

Ohio has enacted a new law that makes it possible for land owners to create a deed that will transfer their real estate to those named beneficiaries, at their death, without the necessity of probate.

This law particularly benefits single elderly citizens whose principal asset is their personal residence. Although, it can be useful in any estate plan.

By creating this new deed, it is now possible for the single citizen with limited assets to engage in estate planning to avoid or lessen probate of their estate much the same as we are able to do with living trusts. It permits the homeowner to continue with full ownership of their real estate during their lifetime, including the power to sell it. If the real estate is still owned at the time of death, it will pass to the named beneficiaries with the least amount of legal activity.

If you would like to know more about Transfer on Death Deeds, and how they may have a place in your estate planning, give us a call.

Article 1
Introduction

This is to introduce the readers of The Spring Street Journal to what will be a weekly feature on various aspects of the law. These articles will also appear each Saturday in the Evening Leader.