Most individuals who live in northeastern Illinois and northern Indiana have heard about "living wills," but not everyone understands this legal term. A "will" is considered by many people to be a written document that directs the disposition of a deceased person's assets following that person's death. "Living wills," on the other hand, serve a different purpose: to express a person's wishes about end-of-life medical care and living circumstances. For this reason, these documents are often referred to as "end-of-life directives." Both Illinois and Indiana have enacted statutes that authorize living wills, but the two statutes differ only in detail.
Any resident of Indiana who is contemplating filing a petition for bankruptcy should be aware of the effect of exemptions from the claims of creditors that are provided under state law. The Indiana legislature has identified certain kinds of assets that cannot be claimed by creditors. While these exemptions apply to all creditor-debtor relationships, they are most effective in an individual bankruptcy proceeding.
Indiana residents will frequently face financial challenges that leave them wondering how they will get on stronger footing. This can happen for a variety of reasons, including job loss, medical debt, overspending, divorce and more. Regardless of why it happened, it is imperative to remember that there are alternatives to find debt relief. Being in financial trouble does not need to dominate a person's life. Understanding that there may be ways to clear the debt - even if that means personal bankruptcy - is a key factor in taking that next step and getting help.