Protect Financial Assets While Going To Jail

You are facing incarceration, what should you do now?  One of the most important things you can do is set up a way to protect your assets, pay your bills and make sure those important to you are taken care of.  You may not be given sufficient warning before going to jail or prison, and even if you know what needs to be done and how to do it, you may not have the time to set everything up before the start of your sentence.

 

You may have a mortgage, car loan, credit card bills and other payment obligations which you will not be able to pay once you are incarcerated.  Most financial obligations accrue back interest, fees, fines, etc., before they are sent to collections and when your sentence is over, and you are released, the debts waiting for you are simply unmanageable.  Filing for bankruptcy from inside is especially difficult unless you already have an attorney handling your financial matters.

 

It is rare for people who served time to earn the same income they did before their incarceration.  This adds to their children’s and family’s struggle to make ends meet.  On the other hand, instances of identity theft and fraud by family members of those incarcerated are too common.  Even in cases, where you have a trusted friend or family member who can look after your things while you are gone, they may not know how to resolve the problems which may arise.

 

Hiring an attorney who has your best interests in mind is an option worth considering.  Whether you have substantial assets you need to protect, or just debts that need to be managed, signing over a power of attorney to someone you trust is necessary to protect your future.  There is a general power of attorney that grants, to the person you specify, the rights to oversee all your assets and debts.  A special power of attorney limits their authority over your matters to one or more specific things, such as making mortgage payments or filing certain paperwork on your behalf.  Attorneys at Legalquest Network provide complete financial assets protection leaving you one less thing to worry about while in prison.

 

Financial assets protection attorneys at Legalquest Network Team provide legal assistance in the cities of Detroit, Dearborn, Southfield, Ann Arbor, Lansing, Grand Rapids, and Sterling Heights.