News & Notes
Divorce Debt
by Ronald G. Aseltine, Esq.
Nov 2nd, 2011
A divorce usually causes havoc on everyone (most of all the children), and can have long lasting effects. One of the common misconceptions in a divorce, however, is that of how the debt is allocated, and who is ultimately responsible.
During a marriage, most people will incur certain debt, whether it is for a car, a house or credit cards (among other things). When a couple incurs the debt, usually both will sign the promissory note ... Read more...
Demystifying Bankruptcy
by Ronald G. Aseltine, Esq.
Nov 2nd, 2011
If you are following the financial news, you are probably aware that with a downturn in the economy, there is an increase in the number of bankruptcy filings. Some people are unable to pay their regular bills when they lose a job, or get sick, or get divorced. Sometimes people do not handle their credit properly. They end up in situations whereby if they tried to pay all their bills, the just don't have enough income, or they would b... Read more...
What Is Probate, Really?
by Ronald G. Aseltine, Esq.
Oct 14th, 2008
If you asked a person 5 things that a lawyer does, I bet on that list would be the word "Probate." But what does that word really mean? If you listen to the TV ads and surf the web, you probably think that probate costs too much in money and time, and therefore it is something to avoid. In many states that may be true. But I think that here in Maine the situation is different.... Read more...
Joint (?) Ownership
by Ronald G. Aseltine, Esq.
Oct 14th, 2008
One of the most frequent questions I am asked deals with the ownership of land when 2 or more people are named as owners on a deed. The question becomes "What happens to the property when one of us dies?" The answer is the proverbial, "It depends." The law in the state of Maine (and generally throughout the country) has a different result depending on the language of the deed.... Read more...