April 2020 Bankruptcy Allowance Update

The United States Bankruptcy Courts update the allowance amounts for filing bankruptcy approximately every 6 months. Beginning April 1, 2020, the amounts below will be in effect. Those allowances will again be subject to change again in approximately 6 months, so it is important to check back for further updates.

If you are struggling with debt, facing a foreclosure, garnishment, collection, or repossession action, bankruptcy or debt settlement may be an option for you. Please call our office at 419-352-2535 for a free consultation today!

April 2020 Ohio Median Income Allowance

Period1 person2 people 3 people 4 people 5 people 6 people Additional people over 6
Year$51,297$64,665$77,642$93,239$102,239$111,239$9,000 per additional person
6 Months$25,649$32,333$38,821$46,620$51,120$55,620$4,500 per additional person
Monthly$4,275$5,389$6,471$7,770$8,520$9,270$750 per additional person
Semi Monthly$2,138$2,695$3,236$3,8885$4,260$4,635$375 per additional person
Bi Weekly$1,973$2,488$2,987$3,587$3,933$4,279$346 per additional person
Weekly $987$1,244$1,494$1,794$1,967$2,140$173 per additional person

April 2020 National Living Allowance

Type1 Person2 People3 People 4 People
Food$386$685$786$958
Housekeeping$40$72$76$76
Apparel$88$159$169$243
Personal Care$43$70$76$91
Miscellaneous$170$302$339$418
Total $727$1,288$1,446$1,786
For each additional person over four add $420 to the four-person total allowance.

April 2020 National Out of Pocket Health Care Allowance

Out of Pocket Health Care Allowance
Under Age 65Age 65 & Over
$55$114

April 2020 Local Housing Allowances

  Allowance
CountyFIPSType1 Person2 People3 People 4 People 5 or More People
Hancock39063Utility$498$584$616$687$698
Mortgage/Rent$748$879$926$1,032$1,049
Total$1,246$1,463$1,542$1,719$1,747
Henry39069Utility$505$593$625$697$708
Mortgage/Rent$685$805$848$945$961
Total$1,190$1398$1,473$1,642$1,669
Sandusky39143Utility$485$570$600$669$680
Mortgage/Rent$659$774$816$910$924
Total$1,144$1,344$1,416$1,579$1,604
Wood39173Utility$489$575$606$675$686
Mortgage/Rent$905$1,062$1,119$1,248$1,268
Total$1,394$1,637$1,725$1,923$1,954

April 2020 Transportation Allowance

  Transportation Allowance
CountyRegionTypePublic Transportation1 Car2 Cars
Ohio Counties
Outside of Cleveland
Metropolitan
Statistical Area
MWOperating$217$191$382
Ownership$508$1,016
Total$217$699$1,398

The bankruptcy attorneys at Spitler Huffman law firm have a long history of experience and are dedicated to serving their clients. Call the office today at 419-352-2535 to schedule your free consultation today!

The bankruptcy and debt settlement attorneys at Spitler Huffman LLP have substantial experience representing clients in Chapter 7 and Chapter 13 bankruptcy, as well as experience working with creditors to help settle your debts.  Located in Bowling Green and Rossford, Ohio, we are dedicated to serving clients across Northwest Ohio, including Wood, Henry, Hancock, and Sandusky Counties.  If you live in or around Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other communities in Northwest Ohio and need debt relief or bankruptcy assistance, please contact us today!

SHOULD I USE A TRANSFER ON DEATH DESIGNATION AFFIDAVIT TO TRANSFER REAL PROPERTY?

Short answer: It depends.

Transfer on Death Designation Affidavits are often times referred to as Transfer on Death Designations, and abbreviated as TODDA, TODD, or TOD, for the purposes of this article we will refer to them as TODs.

TODs are a relatively easy way to pass real property after one’s death.  In its most simple terms, a TOD is an affidavit where the owner designates beneficiary(ies) to receive property upon the death of the owner.  Upon death of the owner, the TOD is triggered and the ownership interest in the property is transferred to the beneficiaries.

The benefits of a TOD are clear; it’s a quick, inexpensive way to pass property and avoid the probate process.  The ease and apparent straightforwardness of using a TOD as an estate planning device has likely led to their overuse.  While the benefits are clear, the potential drawbacks are more subtle, especially when used to convey real property or real property interests.

This article will discuss two drawbacks of using a TOD to transfer real property, insurance coverage lapse and Ohio’s dower rights.  Both need to be considered before using a TOD.  Every situation is different, when in determining whether a TOD is appropriate for you to use it is important to consult an estate planning attorney for professional advice.

INSURANCE LAPSE

A recent Ohio Court of Appeals decision put estate planning practitioners on notice of a significant drawback of TODs – the potential for a lapse in insurance coverage. 

The case, Walker v. Albers Insurance Agency, had nothing to do with TODs, however the ruling and the lesson certainly applies.  The story in Walker is a tragic one for the Walkers.  Ms. Walker inherited a partial interest in her childhood home.  She then lived there alone for some years and was the only named person on the homeowner’s insurance policy.

She passed away without a will.  The estate was opened by probate court and her sister was appointed executor.  Ms. Walker’s interest in the house was transferred to the her heirs, the other remaining property was distributed, and subsequently the estate was closed.  Two weeks later, before anyone had taken physical possession of the house, a fire burned the house down.

The deceased homeowner’s insurance policy had not yet expired, but coverage was denied because neither the descendants nor the heirs qualified as an “insured” under the policy when the loss occurred.  The appeals court agreed with the insurance company affirming the trial court’s determination that coverage was rightfully declined.

Who is an “insured” person under the insurance policy?  All policies differ, though most use similar language, but in the Walker’s case an insured person was:

  • Up until death:
    • the named insured; or
    • residents of the household who are relatives or certain other dependents are the insured persons. 
  • Upon death of the named insured
    • any household member living in the premise at the time of death; or
    • any person having temporary custody until a legal representative is appointed.
  • Once in the probate process – the legal representative

In Walker, there was no dispute that the sister was a legal representative at one point in time.  However, once the probate estate was closed – two weeks prior to the fire – she ceased to be a legal representative.  Thus, at the time of the loss there was no person insured under the policy.

This illustration is exacerbated when applying it to a TOD.  Because under a TOD, the transfer happens immediately at the time of death, it leaves little time for the beneficiary to seek insurance coverage. Further, depending on the relationship with the deceased, lapsed insurance coverage may not be a top priority days or weeks after the death. 

Additional protective measures should be taken, whether it is reconsidering your estate planning method, putting the property into a trust, or adding the beneficiary to the existing insurance policy during the life of the donee.  Using a TOD to transfer real property and failing to protect the property is playing with fire, potentially literally.

DOWER RIGHTS

Another issue with TODs is the potential to cause a logistical nightmare.  Ohio still recognizes dower rights which are statutory rights and interests in marital property held by the non-owning spouse.  If Spouse A is the only title owner of real property, Spouse B still has to sign off on any sale of the property to waive their dower rights.  (More on dower rights can be read here)

Because Ohio recognizes dower rights, each beneficiary’s spouse also has a legal interest in the property.  In order to transfer the property, each spouse needs to sign the deed and waive their interest in the property.   The potential logistical nightmare is best illustrated by example:

T leaves, by TOD affidavit, real property to children A, B, C, D.  T then dies.  At time of T’s death, child B has predeceased T.  B had three children X, Y, Z.  Assume everyone has a spouse.  Depending on the drafting of the TOD document X, Y, and Z may or may not receive B’s interest in the real property.  Let’s assume B’s interest pass to X, Y, and Z. 

At this point there are 6 individuals that are beneficiaries of T’s real property.  If the property is to be sold, all 6 beneficiaries and their spouses will have to sign the purchase agreement and power of sale.  At closing, dower would require all 6 descendants of T and their spouses to be present to sign the power of sale.  That’s 12 people!  The logistics behind this potential situation make these transactions less than desirable. 

A much simpler solution would be a sale through a probate estate or a trust, where a sale of the real property can be made through the estate or trust and distributions can be determined accordingly.  While many intend their TODs to make things simpler for their heirs, there are certain instances where one could complicate matters. 

TODs can be an effective and inexpensive way to transfer property without the need for the probate process, however in addition to the above illustrations, there are numerous drawbacks to consider.  These potential pitfalls demonstrate the necessity to consult an experienced estate planning attorney. 

The estate planning attorneys at Spitler Huffman law firm have substantial experience in creating an estate plan to fit their clients’ needs.  Located in Bowling Green and Rossford, Ohio we are dedicated to serving clients in Northwest Ohio including Wood, Henry, Hancock, and Sandusky Counties.  If you live in Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other areas in Northwest Ohio and need estate planning assistance, contact us today.

November 2019 Bankruptcy Allowance Update

Bankruptcy Courts update the allowance amounts for filing bankruptcy approximately every 6 months. Beginning November 1, 2019, the amounts below will be in effect. Those allowances will again be subject to change in May 2020, so it is important to check back for further updates.

November 2019 Ohio Median Income Allownance

Period1 person2 people 3 people 4 people 5 people 6 people Additional people over 6
Year$50,384$63,514$76,260$91,580$100,580$109,580$9,000 per additional person
6 Months$25,192$31,757$38,130$45,790$50,290$54,790$4,500 per additional person
Monthly$4,199$5,293$6,355$7,632$8,382$9,132$750 per additional person
Semi Monthly$2,099$2,646$3,178$3,816$4,191$4,566$375 per additional person
Bi Weekly$1,938$2,443$2,933$3,522$3,868$4,215$346 per additional person
Weekly $969$1,221$1,467$1,761$1,934$2,107$173 per additional person

November 2019 National Living Allowance

Type1 Person2 People3 People 4 People
Food$386$685$786$958
Housekeeping$40$72$76$76
Apparel$88$159$169$243
Personal Care$43$70$76$91
Miscellaneous$170$302$339$418
Total $727$1,288$1,446$1,786
For each additional person over four add $420 to the four-person total allowance.

November 2019 National Out of Pocket Health Care Allowance

Out of Pocket Health Care Allowance
Under Age 65Age 65 & Over
$55$114
  Allowance
CountyFIPSType1 Person2 People3 People 4 People 5 or More People
Hancock39063Utility$498$584$616$687$698
Mortgage/Rent$748$879$926$1,032$1,049
Total$1,246$1,463$1,542$1,719$1,747
Henry39069Utility$505$593$625$697$708
Mortgage/Rent$685$805$848$945$961
Total$1,190$1398$1,473$1,642$1,669
Sandusky39143Utility$485$570$600$669$680
Mortgage/Rent$659$774$816$910$924
Total$1,144$1,344$1,416$1,579$1,604
Wood39173Utility$489$575$606$675$686
Mortgage/Rent$905$1,062$1,119$1,248$1,268
Total$1,394$1,637$1,725$1,923$1,954
  Transportation Allowance
CountyRegionTypePublic Transportation1 Car2 Cars
Ohio Counties
Outside of Cleveland
Metropolitan
Statistical Area
MWOperating$217$191$382
Ownership$508$1,016
Total$217$699$1,398

If you believe bankruptcy is an option for you, if you need to stop a garnishment, collection, foreclosure, repossession, creditor harassment, or if you are struggling with debt, please give the experienced bankruptcy lawyers at Spitler Huffman law firm a call at 419-352-2535 to schedule a free consultation today.

The bankruptcy and debt settlement attorneys at Spitler Huffman LLP have substantial experience representing clients in Chapter 7 and Chapter 13 bankruptcy, as well as experience working with creditors to help settle your debts.  Located in Bowling Green and Rossford, Ohio, we are dedicated to serving clients across Northwest Ohio, including Wood, Henry, Hancock, and Sandusky Counties.  If you live in or around Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other communities in Northwest Ohio and need debt relief or bankruptcy assistance, please contact us today!

MORE PEOPLE ELIGIBLE FOR EXPUNGEMENT IN OHIO, POTENTIALLY MORE CHANGES IN THE LAW TO COME

Having a criminal record can have severe consequences.  It could keep you from getting a job or receiving a promotion, it could be embarrassing to have what is likely the worst mistake you have made as public record.  Whatever the reason, there is the potential to have that criminal record removed expunged from public record as if it never occurred.

In Ohio, what is generally known as expungement is called “sealing of a conviction.”  Recently, Ohio’s legislature passed a bill making more previous offenders eligible to have their convictions sealed. 

In order to have your record sealed, one must be an “eligible offender” under Ohio’s Revised Code Section 2953.31.  There are two categories of eligible offenders, each with different requirements:

Having a criminal record can have severe consequences.  It could keep you from getting a job or receiving a promotion, it could be embarrassing to have what is likely the worst mistake you have made as public record.  Whatever the reason, there is the potential to have that criminal record removed expunged from public record as if it never occurred.

In Ohio, what is generally known as expungement is called “sealing of a conviction.”  Recently, Ohio’s legislature passed a bill making more previous offenders eligible to have their convictions sealed. 

In order to have your record sealed, one must be an “eligible offender” under Ohio’s Revised Code Section 2953.31.  There are two categories of eligible offenders, each with different requirements:

  There are two categories of eligible offenders, each with different requirements:

Group AGroup B
* Not More than 5 Felonies.

* All offenses felony 4 or 5, or
misdemeanor

* No offense of violence

* No felony sex offense
* Not eligible under Group A

*Not more than 1 felony conviction,
two misdemeanor convictions, or 1
felony and one misdemeanor convictions

* multiple convictions resulting from the
same act could be considered one
conviction

O.R.C. § 2953.31

However, there are certain offenses that cannot be expunged.  See O.R.C. § 2953.36.   

An eligible offender is allowed to apply for sealing a conviction:

  • Misdemeanors – 1 year after final discharge
  • 1 felony – 3 years after final discharge
  • 2 felonies – 4 years after final discharge
  • 3-5 felonies – 5 years after final discharge

Final discharge occurs after the completion of all requirements of a sentence, including community control, commonly known as probation or parole. 

If you believe you qualify as an eligible offender and have waited the required time after discharge, contact an experienced criminal defense attorney today to start the application process.

This recent legislation allows more felony and misdemeanor convictions to be expunged than ever before.  Even further, 2019 House Bill 1 is currently pending, and its passage would make even more people with criminal records eligible for expungement.  2019 House Bill 1 could also shorten the time needed before being able to apply to seal a conviction.  Each case is fact specific, which is why consulting a competent attorney is important. 

Criminal defense attorney Steven L. Spitler of the Spitler Huffman LLP. law firm has 23 years’ experience in the area of criminal defense including record expungement of felony and misdemeanor offenses.  Located in Bowling Green, Wood County Ohio, Steven L. Spitler is a premier attorney serving clients across Northwest Ohio.  

The outcome of an individual case depends on a variety of factors unique to that case.  Case results do not guarantee or predict similar results in any similar or future case.

Revocable Trusts in estate planning.

What is a Revocable Living Trust or RLT?

A RLT is a trust created by a client (called “Grantor,” “Settlor,” “Trustor,” “Trustmaker,” etc.). The client has full right to amend and revoke the trust or any provision thereunder during the client’s lifetime. A RLT, can provide detailed instruction and authority for a client’s family in the event of his/her disability. A RLT if funded, can also avoid the need for probate and provide for effective distribution of assets at death to heirs outright or in lifetime asset protection trusts. The client retains access to all income and all principal from the trust at any time. All assets in a RLT remain available to the client’s creditors, predators and long-term care costs and are considered “available” for purposes of Medicaid qualification and Veterans Benefits eligibility.

Some of the useful features of the RLT are

  • Client retains right to income and principal from the trust.
  • Client can be sole or co-trustee.
  • Client retains the right to modify or revoke the trust in any manner at any time.
  • Pure grantor trust under IRC §§671-678 (income) and IRC §§2036-2042 (estate).
  • Client can provide extensive “directions” for use of assets and income in case of disability.
  • Client can pass assets to beneficiaries in asset protection trust with personalized instructions.

How RLTs can be used

  • Clients who wish to provide extensive instructions and authority in event of disability.
  • Clients who want to avoid probate and get their assets to their beneficiaries effectively and timely.
  • Clients who want to maintain full control and access to all assets at all times.
  • Clients who want to provide asset protection to their heirs after death or to protect against “spend thrift” or loss to disabled beneficiaries care costs.

What are the Benefits of RLTs

  • Income and principal available to client and client can terminate at any time.
  • Keeps client affairs private (don’t have to share with children or public).
  • Retains ownership for full step-up in tax basis to asset values at death.
  • Permits assets to be distributed to beneficiaries in asset protection trust.
  • Can protect assets from creditors, predators or long-term care costs needed for community spouse after client’s death.

Issues to consider when making a RLT

  • Transfers “to” or “from” will be subject to a look back.
  • All assets are considered “available” to Medicaid and other creditors.
  • Standard vs Personalized Planning options
  • Commitment (transaction or relationship)

While this article focuses on the many features of revocable trusts in an estate plan there are numerous considerations that factor in to a clients situation and significant reasons not to utilize. Every client considering trusts in their estate planning should consult competent counsel to evaluate their individual situation.

The estate planning attorneys at Spitler Huffman law firm have substantial experience in creating an estate plan to fit their clients needs.  Located in Bowling Green and Rossford, Ohio we are dedicated to serving clients in Northwest Ohio including Wood, Henry, Hancock, and Sandusky Counties.  If you live in Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other areas in Northwest Ohio and need estate planning assistance, contact us today.

WOOD COUNTY, OHIO JURY RETURNS NOT GUILTY VERDICT FOR MAN FALSELY ACCUSED OF AGGRAVATED BURGLARY, AGGRAVATED MENACING, AND DOMESTIC VIOLENCE / ASSAULT

Recently, Criminal Defense Attorney Steven L. Spitler assisted a client falsely accused by an ex-girlfriend and her new boyfriend of:

  • Aggravated Burglary (O.R.C. 2911.11(A)(1);
  • Aggravated Menacing (O.R.C. 2903(A); and
  • Domestic Violence (O.R.C. 2919.25(C)

The client was accused of sneaking into the home of his ex-girlfriend and hiding under her bed with a large knife.  However, he was not there.  The police and SWAT team searched the residence and failed to find the client.  The Wood County Prosecutor’s office still sought charges on the claim that he fled the residence before the authorities arrived. 

Criminal Defense Lawyer Steven L.  Spitler met with and consulted with his client and to prepare the strongest possible defense.  These were very serious charges with a possible sentence of 20-30 years in prison if found guilty.  Attorney Spitler and his legal team thoroughly investigated the matter, interviewed alibi witnesses and provided vigorous representation. 

Even with the testimony of alibi witnesses stating that the client was not at the scene of the alleged crime, the prosecution continued to pursue these serious charges.  Unwilling to accept plea deals that would have resulted in a substantial prison term, the client and Attorney Steven L.  Spitler proceeded to jury trial. 

At the three-day jury trial Attorney Steven L. Spitler zealously represented his client.  Two lines of opposing testimony were present for the jury, the ex-girlfriend and boyfriend saying the client was there and committed the offenses and our client and the two alibi witnesses stating he was not there.  The criminal defense trial experience of Attorney Steven L. Spitler was able to prove to the jury that this whole incident was a fabrication.

At the conclusion of the trial, the jury deliberated for less than 20 minutes before returning a verdict of NOT GUILTY.  These accusations against the client could have resulted in a serious prison sentence, for a crime he did not commit.  By making the wise choice to retain a highly skilled criminal defense lawyer, the client was able to go home to his family and not have to serve prison time for something he did not do.

Criminal defense attorney Steven L. Spitler of the Spitler Huffman LLP. law firm has 23 year’s experience in the area of criminal defense including robbery, burglary, domestic violence/assault, OVI, Drug Trafficking,  Drug Possession and other related felony and misdemeanor offenses.  Located in Bowling Green, Wood County Ohio, Steven L. Spitler is a premier attorney serving clients across Northwest Ohio.  

The outcome of an individual case depends on a variety of factors unique to that case.  Case results do not guarantee or predict similar results in any similar or future case.

Changes in bankruptcy allowances.

Its that time of year again when the Bankruptcy Courts update the bankruptcy allowances. Below are the changes for this year. These changes are effective as of May 1, 2019.

New Ohio Median Income Allowances

Period1 person2 people 3 people 4 people 5 people 6 people 7 People 8 people Additional people over 8
Year$49,624.00$62,308.00$74,969.00$89,454.00$98,454.00$107,454.00$116,454.00$125,454.00$9,000.00 per
additional person
6 Months$24,812.00$31,154.00$37,485.00$44,727.00$49,227.00$53,727.00$58,227.00$62,727.00$4,500.00 per additional person
Monthly$4,135.00$5,192.00$6,247.00$7,455.00$8,205.00$9,705.00$9,705.00$10,455.00$750.00 per additional person
Semi Montly$2,068.00$2,596.00$3,124.00$3,727.00$4,102.00$4,477.00$4,852.00$5,227.00$375.00 per additional person
Bi Weekly$1,909.00$2,396.00$2,883.00$3,441.00$3,787.00$4,133.00$4,479.00$4,825.00$346.00 per additional person
Weekly $954.00$1,198.00$1,442.00$1,720.00$1,893.00$2,066.00$2,240.00$2,413.00$173.00 per additional person

New National Living Allowances

Type1 Person2 People3 People 4 People5 People6 People 7 People8 PeopleAdditional Person
Food$386.00 $685.00$786.00$958.00$1,182.00$1,407.00$1,632.00$1,857.00$282.00 per
additional person
Housekeeping$40.00$72.00$76.00$76.00$93.00$111.00$129.00$147.00$0.00 per
additional person
Apparel$88.00$159.00$169.00$243.00$301.00$358.00$358.00$415.00$0.00 per
additional person
Personal Care$43.00$70.00$76.00$91.00$112.00$133.00$155.00$176.00$0.00 per
additional person
Miscellaneous$170.00$302.00$339.00$418.00$518.00$617.00$715.00$814.00$138.00 per additional person
Total $727.00$1,288.00$1,446.00$1,786.00$2,206.00$2,626.00$3,046.00$3,466.00$420.00 per
additional person

New National Health Allowances

Allowance
Under Age 65Age 65 & Over
$55.00$114.00

New Local Housing Allowances

  Allowance
CountyFIPSType1 Person2 People3 People 4 People 5 People
Hancock39063Utility$498.00$584.00$616.00$687.00$698.00
Mortgage$748.00$879.00$926.00$1,032.00$1,049.00
Total$1,246.00$1,463.00$1,542.00$1,719.00$1,747.00
Henry39069Utility$505.00$593.00$625.00$697.00$708.00
Mortgage$685.00$805.00$848.00$945.00$961.00
Total$1,190.00$1398.00$1,473.00$1,642.00$1,669.00
Sandusky39143Utility$485.00$570.00$600.00$669.00$680.00
Mortgage$659.00$774.00$816.00$910.00$924.00
Total$1,144.00$1,344.00$1,416.00$1,579.00$1,604.00
Wood39173Utility$489.00$575.00$606.00$675.00$686.00
Mortgage$905.00$1,062.00$1,119.00$1,248.00$1,268.00
Total$1,394.00$1,637.00$1,725.00$1,923.00$1,954.00

and finally the

New National Ownership and Local Operating Transportation Allowances.

   Allowance
CountyRegionTypeNo Car1 Car2 Car
Other OH CountiesMWOperating$217.00$191.00$382.00
Ownership$508.00$1,016.00
Total$217.00$699.00$1,398.00

If you think bankruptcy may be in your best interest, and need to stop a garnishment, creditor harassment, collection phone calls, foreclosure, repossession, or just need to get ahead of your debt please give us a call today at 419-352-2535 to set up a free consultation.

The bankruptcy attorneys at Spitler Huffman law firm have substantial experience representing clients in Chapter 7 and Chapter 13 bankruptcy .  Located in Bowling Green and Rossford, Ohio we are dedicated to serving clients in Northwest Ohio including Wood, Henry, Hancock, and Sandusky Counties.  If you live in Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other areas in Northwest Ohio and need bankruptcy assistance, contact us today.

Chapter 7 Bankruptcy Changes in Exemptions

The bankruptcy attorneys at Spitler Huffman law firm have substantial experience representing clients in bankruptcy.  Located in Bowling Green and Rossford, Ohio we are dedicated to serving clients in Northwest Ohio including Wood, Henry, Hancock, and Sandusky Counties.  If you live in Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other areas in Northwest Ohio and need bankruptcy assistance, contact us today.

Starting on April 1, 2019 there were new exemption limits for filing Chapter 7 Bankruptcy.

The new federal chapter 7 bankruptcy exemptions are as follows:

Exemption §552(d)Current Exemption
Amount
New Exemption
Amount
Household$600.00 Per Item

$12,625.00 Total
$625.00 Per Item

$13,400.00 Total
Homestead$23,675.00$25,150.00
Personal Injury$23,675.00$25,150.00
Life Insurance$12,625.00$13,400.00
Motor Vehicle$3,775.00$4,000.00
Trade$2,375.00$2,525.00
Jewelry$1,600.00$1,700.00
Wild Card$1,250.00

$11,850.00
Homestead Carryover
$1,325.00

$12,575.00
Homestead Carryover

The new Ohio chapter 7 bankruptcy exemptions are as follows:

Exemption (2329.66)Current Exemption
Amount
New Exemption
Amount
Cash$475.00$500.00
Homestead$136,925.00$145,425.00
Household$600.00 Per Item

$12,625.00 Total
$625.00 Per Item

$13,400.00 Total
Jewelry$1,600.00$1,700.00
Motor Vehicle$3,775.00$4,000.00
Personal Injury
Awards
$23,700.00$25,175.00
Professional Books &
Tools of the Trade
$2,400.00$2,550.00
Wildcard$1,250.00$1,325.00

If you think bankruptcy may be in your best interest, please give us a call today to set up a free consultation.

Changes in the Spousal Support Tax Laws and What this could mean for you.

The divorce attorneys at Spitler Huffman law firm have substantial experience representing clients in family law.  Located in Bowling Green and Rossford, Ohio we are dedicated to serving clients in Northwest Ohio including Wood, Henry, Hancock, and Sandusky Counties.  If you live in Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other areas in Northwest Ohio and need assistance with a divorce or dissolution, contact us today.

Since the enactment of the Tax Cuts and Jobs Act (“TCJA”) in December of 2017, substantial changes have been made to the application of Ohio’s spousal support that are important for families to consider when making the difficult choice to separate. 

First, it is important to note that TCJA applies to domestic relations matters (i.e., divorce and dissolution proceedings) that conclude on or after January 1, 2019.  Second, it is important to be aware that a person paying spousal support pursuant to an order that was issued on or after January 1, 2019 may no longer deduct that payment from their individual income taxes.  Similarly, and equally important to know, is that the TCJA no longer requires the receiving spouse to claim that income.  Finally, given the unique issues in every domestic relation matter it is important to know your options.

Please give our office a call with any questions or to discuss your personal situation.

IRS Circular 230 Statement Applicable: To Tax Advice, If Any, Contained In This Communication

Treasury Regulations require us to inform you that neither you nor any other recipient may use any tax advice in this communication to avoid any penalty that may be imposed under federal tax law.  To obtain penalty protection, the new Regulations require attorneys, accountants and other tax advisors to perform increased due diligence to verify all relevant facts and to format the written tax advice in a lengthy number of separately enumerated sections with numerous disclosures.  If you would like us to prepare written tax advice designed to provide penalty protection, please contact us and we will be pleased to discuss the matter with you in more detail.

Updates to Chapter 7 Bankruptcy Income Limits and Exemptions

The bankruptcy attorneys at Spitler Huffman law firm have substantial experience representing clients in bankruptcy.  Located in Bowling Green and Rossford, Ohio we are dedicated to serving clients in Northwest Ohio including Wood, Henry, Hancock, and Sandusky Counties.  If you live in Bowling Green, Findlay, Perrysburg, Napoleon, Port Clinton, Fremont, Rossford, or other areas in Northwest Ohio and need bankruptcy assistance, contact us today.

As of November 1, 2018 there have been several updates to the Chapter 7 Bankruptcy Income Limits and Exemptions.

Ohio Income limits (after 11/1/2018);

1 Earner 2 People 3 People 4 people
Ohio $48,441.00 $60,822.00 $73,182.00 $87,321.00

Ohio Income Limits (Before 11/1/2018):

1 Earner 2 People 3 People 4 people
Ohio $48,596.00 $60,834.00 $70,529.00 $85,294.00

Wood County Housing and Utility Allowance** (After 11/1/2018);

1 Person 2 People 3 People
Utilities Mortgage/Rent Utilities Mortgage/Rent Utilities Mortgage/Rent
$491 $890 $576 $1,046 $607 $1,102
4 People 5 or More
Utilities Mortgage/Rent Utilities Mortgage/Rent
$677 $1,229 $688 $1,248

** Exceptions Apply; Please seek the advice of counsel for more detailed information.

Public Transportation Expense Limit  $178

Vehicle Operating Costs

1 Car 2 Cars
$196 $392

Vehicle Ownership Costs

1 Car 2 Cars
$497 $994

If you think Bankruptcy may be in your best interest, call us today for a free consultation.

-Posted by LAF