The Trussville Tribune | Legal & Finance | February, 2021

A Special Supplement to

The Trussville Tribune February 2021

Legal & Finance

Page 2

Legal & Finance | The Trussville Tribune

February, 2021

How to become part of the Bryant Bank family While switching banks may seem overwhelming, it really can be a simple task — and an easy way to begin a relationship with one of our helpful bankers at Bryant Bank. Our staff is here to put care into action for you for, to help make the most of life’s moments, and to help you invest in your full potential.

Also, banking locally is one of the best ways to make certain your money does the most in our community. Bryant Bank invests in local people and local businesses, and has a stake in their success, in helping our hometowns flourish.

So just how simple is switching banks, you ask? When working with a collaborative banking partner, a great, seamless experience should be expected. Your banker should walk alongside you throughout the process and assist with the collection of information in any way that’s convenient for you.

With it being a new year, many individuals and businesses may be thinking about making the switch. If that’s you, we want to provide you a checklist of items needed to open an account at Bryant Bank.

Items Needed To Open A Personal Account With Bryant Bank: • An official photo ID, like your driver’s license • Your social security number • Cell phone number • The name of your employer and occupation • If the address on your driver’s license is no longer correct, we’ll need two other forms of address verification — a pay

begins with our instant-issue debit cards.

This is such an exciting service we’re able to offer our customers. Whether you’re a new customer or, later, if your card is lost, damaged, or compromised, we can print a new debit card instantly.

With your new debit card in hand, we’ll Items Needed To Open A Business Ac- help you order checks and create an oncount With Bryant Bank: line banking account while demonstrating • The EIN for your business the many perks of our mobile banking app.

• A copy of the recorded articles or certifi- One added benefit of being a Bryant Bank cate of formation customer is that the customer has complete • Your business address control of their debit card within their on• Phone number and email line banking. Lost debit card? De-activate • List of beneficial owners and controller it in seconds – it’s that easy! of finances Final Touches • An initial deposit, which can be as low With these tasks done, you’ve now beas $100, depending on the account you come part of the Bryant Bank family. want to open You’re contributing to your local economy Let’s Get Started and will be cared for by a team that’s dediYou’ve collected your items and now cated to your success. you’re ready to give the bank a call or visNow, Don’t Forget To… it their lobby. Many financial institutions still have COVID-19 protocols in place so • Switch your direct deposits and your standing, automatic debits to your new it’s important to give them a call before account stopping by. At Bryant Bank, our lobbies have restricted access for COVID-19 safety • Let any outstanding checks or residual charges clear your old account precautions. While an appointment can be made very easily to open an account, we • Close your old account and collect any remaining balance can help gather the information through At Bryant Bank, our bankers are honemail, phone, and through our drive-thru windows, too. As a matter of fact, the en- ored each time they earn the trust of a new tire process can be completed through the customer. From the first time you walk in the door you will feel like you belong as drive-thru, including signing necessary pawe provide unbeatable service at all times. pers and cards.

We know success is a journey that we take Receive Your Debit Card Instantly together with our customers, and we’re With your new account set up, we’ll have thrilled to celebrate every victory with you your account rolling in record time, and that along the way. stub, bank or credit card statement, utility bill, tax return — any official document that bears your name and correct address.

• An initial deposit, which can be as low as $50, depending on the account you want to open

It’s a new year with new goals in mind.

Bryant Bank is here to walk with you along the way.

Bryant Bankers put care into action to help you invest in your full potential.

For your business, your family, and for everything in life, when you need a partner in banking, your Bryant Bank family is here for you.

Personal | Business | Mortgage Banking Visit BryantBank.com or call 1-205-661-5900 137 Main Street | Trussville, AL 35173 Member FDIC. Equal Housing Lender. NLMS 582857.

February, 2021

Legal & Finance | The Trussville Tribune

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Investing In A Biden Era Economy Part Two

By David Guttery

A few weeks ago, we published an article containing a high-level overview of investment opportunities under the new Administration. As a continuation of that theme, I wanted to offer some greater depth on those thoughts.

As of the end of January, in my opinion I believe we are already beginning to see some classic characteristics of market rotation. The ten-year treasury yield is noticeably higher over just the last four weeks, the energy sector has risen noticeably as well as evidenced by crude oil. We are also noticing that market segments that lagged the rally in the previous year, seem to be among the leading market segments in the early stages of 2021.

Janet Yellen, former Federal Reserve chair person, and newly confirmed treasury secretary, has already stated her opinion that additional stimulus is required. By extension, we can assume that the Federal Reserve probably won’t depart from its accommodation posture anytime soon. To me, this means more printed money, where each newly printed dollar weakens the existing dollars, thus eroding your purchasing power.

Furthermore, we have heard about the potential for corporate tax liability to rise, as well as a new FICA tax on income above $400,000, taxation on repatriated dollars, and other things that will factor into higher cost of production. Generally, those costs are not borne by the companies themselves, but instead are passed along to consumers in the form of higher prices.

So, between additional stimulus, which will result in a weakening dollar, and higher taxes which will add to cost of production, we can expect inflation on at least two fronts which will impact the behavior of consumers.

Rather than being focused on discretionary spending, and the consumption of economically elastic items, historically consumers have shifted their focus away from the consumption of luxury non necessary items, to primarily the consumption of staples. These are economically inelastic

goods and services. Said another way, you will generally consume economically inelastic staples regardless of where we may find ourselves in economic cycle.

This would include such items as toilet paper, paper towels, dishwashing detergent, cereal, macaroni and cheese, soft drinks, bars of soap, utilities and telecommunications. You will take an aspirin if you have a headache, heat your home, talk on your phone, wash your clothes, take a shower, consume paper products and other staples items, but not necessarily consume a $7.00 cup of specialty coffee.

Likewise, as regulatory impediments influence capital expenditures at the corporate level, along with additional burdens of taxation, we can expect the behavior of corporations to shift as well. At a high-level, companies will become increasingly less likely to focus on the expansion of plant and capacity, and the ability to produce greater amounts of products, but will rather be incentivized to spend money in ways that increase the utility and the efficiency of the capacity that they have. Therefore, process automation, robotics, information management will likely be areas that prosper while discretionary and non-necessary areas of expenditure will not.

As we observed under the Obama administration, we can assume that the velocity of money will again decline. This is a characteristic of both corporations and individuals being cognizant of potentially higher liabilities of taxation, and that the remaining amount of weakening, net spendable dollars, will likely be purchasing fewer goods and services as inflation becomes of greater concern.

Therefore, at a high-level, I believe at this time it would be a good idea for investors to be very aware of the sector exposure concentration of assets within their investment portfolios, as a function of the objective behind those portfolios. This might be a good time to shift away from large growth and high beta assets, to the traditionally dividend centric, value types of holdings with a concentration in economically inelastic staples, rather than in economically elastic

discretionary goods and services.

As we mentioned in our previous article, seasons change. The shorts and the T-shirts that you were wearing in July, just aren’t the best option for the weather in January. Today, it is time for the jeans and the jackets.

Patterns of behavior change as well. The swimming pool is a fantastic place to beat the summer heat. Sure, you could choose to go swimming in January, but I don’t think the 45° water would be very comfortable.

We also have the benefit of looking back to Obama administration for insight as to investment opportunities when faced with characteristics of declining velocity of money, higher inflation, higher taxation, stagnating wages, and tepid economic growth.

We can assume, that we will soon find ourselves in a similar economic disposition. At a high-level, I would encourage everyone to be aware of their exposure to economic segments as the seasons are changing, and evaluate the merits of reallocating accordingly. Clearly this is a function of the risk tolerance of an individual, liabilities of taxation on realized gains, and other factors.

If you work with a financial professional, engage that person frequently at this time for an in-depth evaluation of your unique situation. If you are without such professional guidance, please do not hesitate to give us a call. (*) David R. Guttery, RFC, RFS, CAM, is a financial advisor, and has been in practice for 30 years, and is the President of Keystone Financial Group in Trussville. David offers products and services using the following business names: Keystone Financial Group – insurance and financial services | Ameritas Investment Company, LLC (AIC), Member FINRA / SIPC – securities and investments | Ameritas Advisory Services – investment advisory services. AIC and AAS are not affiliated with Keystone Financial Group. Information provided is gathered from sources believed to be reliable; however, we cannot guarantee their accuracy. This information should not be interpreted as a recommendation to buy or sell any security. Past performance is not an indicator of future results.

Keystone Financial Group focuses on helping you maximize your future financial standing. We can assist you in savings and wealth management plans that are right for you and your current financial status. Most of all, we ensure you a level of customer service and interaction that is genuinely personable.

Providing Financial Planning for the Individuals: • • • •

Retirement Planning Wealth Management College Savings Money Management

Financial Services for Businesses: • • • •

401K & IRA plans Employee Insurance Plans Deferred Compensation Plans Ownership Transfer Plans

David R. Guttery, RFC, RFS, CAM President

Brandon T. Guttery Financial Professional

205-655-7526 8178 Gadsden Highway, Suite 104 Trussville Al, 35173

Learn more at www.KeystoneFinGrp.com Securities and advisory services offered solely through Ameritas Investment Corp. (AIC). Member FINRA/SIPC. AIC and Keystone Financial are not affiliated.

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Legal & Finance | The Trussville Tribune

February, 2021

Trussville attorney Bill Bright shares passion while advocating for others

By Tanna M. Friday For The Trussville Tribune

For more than 42 years Trussville attorney, William Bright, has had a passion for law and advocacy.

Beginning his legal career in 1979 with the Alabama Attorney General’s office, Bright served under Attorney General Bill Baxley advising and representing the Alabama legislature, state agencies, and advocating as the people’s attorney for the citizens of Alabama.

Bright graduated from Auburn University and received his juris doctorate degree from Birmingham School of Law while working for the Alabama Attorney General’s office.

“I was introduced to law when I was a kid,” said Bright. “My scout master was an attorney and he led me in that direction. I admired him greatly and ultimately clerked for him.”

Bright shares his passion and advocacy in several aspects of his life including his Trussville private practice representing clients in the areas of family and trial law.

“After Bill Baxley left the Alabama Attorney General’s office, I left as well and went into private practice,” said Bright. “Being a veteran in the community, divorce law kind of worked its way in my area of practice. You get halfway decent at it and it becomes your specialty. I do other areas of law, but 90% of my work is

divorce work.”

Family law can also be challenging and emotionally exhausting work. But four decades later—and 38 years after starting his practice—Bright still feels as though it’s his calling and his passion.

“It allows me to do what I enjoy—trial work, advocate for others, be compassionate, and help others,” said Bright.

“I’ve experienced divorce personally,” said Bright. “My parents divorced and I, too, have been divorced,” said Bright.

“Divorce is traumatic, no matter what happens and my primary concern are the kids involved.”

Bright feels energized by being able to help clients through some of the hardest times of their lives.

“You’re dealing with someone’s life…The case of their life…they could lose their children, they could lose their money, and maybe they’ve suffered abuse or are an addict,” he says. “The divorce lawyer you chose is important.”

In family law, there are volatile emotions, tangled finances, bitter custody disputes, and lots of worry and pain. As Bright noted, no one wants a divorce, but if one is needed he is a compassion and skilled attorney who can represent well.

Bright’s attributes of advocacy and passion shine through in many other facets of his life including the

foundation he and his wife, Lisa Bright (Trussville City Council member), helped establish, The Will Bright Foundation, in memory of their son, Will. The Will Bright Foundation helps fund addiction recovery for those who are unable

to afford treatment as well as offer housing, training and job placement for those who complete the recovery program.

“Will died of a heroin overdose at the age of 25,” shares Bright. “He tried so hard to overcome his addic-

tion, but when he left rehab he had nowhere to go to help him with his recovery.”

The Will Bright Foundation is a non profit established in 2014 and takes [their] “pain and turning it into [their] purpose allows the Will Bright Founda-

tion to make a difference in many lives.” The foundation offers 1) scholarships to those unable to afford recovery; 2) next step/transitional living at Restoration Springs to receive counseling, job readiness training and job placement; and 3) extended awareness, legislation and education information on the Opioid Crisis through a coalition group, Voices for Non-Opioid Choices. For more information, visit www.WillBrightFoundation.com.

The Brights have continued making trips to Capitol Hill concerning the Opioid Crisis and how it effects families.

“This opportunity has allowed us to become involved with, and a charter member of Voices for Non-Opioid Choices, an advocacy group dedicated to how pain management is treated,” said Bright.

“Through this grass roots movement, we have spoken to numerous Senators and Congressmen on Capitol Hill, from all over the United States, concerning the Opioid Crisis, addiction, recovery and of course the Will Bright Foundation. We count this as a blessing and honor to share our story of Will not only as a addict but as our son.”

This is one of the many reasons why Bright never grows weary of advocating for clients when they need it most, and feels grateful who can assist as many people as possible.

February, 2021

Legal & Finance | The Trussville Tribune

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Dr. Adolph ‘Doc’ Brown and Ronnie O. Rice address law enforcement preconceived biases in African Americans; advocate 3 Cs

By Tanna M. Friday For The Trussville Tribune

In July 2020, the Pew Research Center surveyed Americans' attitudes toward law enforcement, race, and political persuasion, but the findings were significantly skewed. The poll was conducted in June, shortly after the killing of George Floyd sparked nationwide protests over police brutality. The survey’s findings suggest that the opinions of the police are less favorable today than in 2016, when Pew conducted a similar poll showing that 68% of white Americans, 40% of Blacks and 59% of Hispanics had a favorable view.

Only two-thirds who were surveyed rejected the notion of “qualified immunity,” where officers should be shielded from lawsuits unless they commit clear violations of the law. The majority, including 86% of Black respondents, 60% of whites, and 75% of Hispanics, agreed that “civilians need to have the power to sue law enforcement in order to hold them accountable for excessive use of force and misconduct.”

The study also illustrates the perceptions of police tactics, courteousness, racial impartiality, and competency. Results show that the opinions vary by race, listing Black (31%) and Hispanic (42%) Americans as far less likely than white Americans (64%) to be highly confident in their local police departments to treat all racial groups equally.

So, why are there preconceived biases in ideology and behavior among minorities?

Birmingham attorney and motivational speaker, Ronnie O. Rice, started the conversation with The Trussville Tribune on the topic of how minorities should engage with the law enforcement.

“A lot times we hear what is going on with minorities,

especially with Black males, when they are being pulled over or are engaged by law enforcement,” said Rice.

“What are the things they are doing right or wrong? How did the opposing respond to the Capitol Hill situation versus the protests with color of skin? My goal is to provide relatable topics of conversations to the issues at hand while providing relatable solutions on how to respond to police.”

Rice, along with educational leader, Clinical Psychologist, and social justice advocate, Dr. Adolph “Doc” Brown, share the legal and solid foundational perspective of minority interactions with law enforcement.

“I have been studying this topic for over 30 years,” said Brown. “What is interesting is the background of a study I conducted which initially started with the topic of law enforcement perception of African American males, a psychophysiological perspective. We say psychophysiological perspective because anyone can do a pencil/paper test and the responses are often going to be as biased as our brain, but the moment you start including things like a lie detector test, blood pressure, skin response, and respiration, the body begins to listen to everything the mind says.”

For the initial study, Brown shares, law enforcement officers were advised to be hooked up to the apparatus’ to show how their bodies responded during interactions with Black males versus white males. Unfortunately, no police precincts would allow Brown to perform this type of study. Instead, Brown conducted an inverse study that can be found in his 1997 psychology theses and dissertation titled ‘African American Males’ Perception of Law Enforcement: A Psychophysiological Perspective’.

Brown examines a law enforcement stop in his study, described as a stereotype threat.

“When law enforcement gets behind anyone’s car whether the person is black or white, everyone initially has a physiological spike,” said Brown. “Which is a natural or normalized reaction. What occurred in African American males was that the spike continued to rise. It wasn’t just law enforcement being behind them, it became, ‘Am I going to survive this encounter?’”

Brown explains that the study was groundbreaking because it was almost halted due to physiological harm it was causing the participants.

“The participants in the study were spiking off the charts,” explained Brown.

“When this occurred I had to do some kind of intervention because of possible harm being caused to the participants.

Furthermore, we had to perform relaxation imagery on the tail end of the study.”

The study, Brown explains, is the show of what we have known for years.

“How bias is translated into how we respond to our engagement,” he explained. “I have worked in conjunction with a retired police detective, James Thomas, together on this study for about thirty years. We have a real distinct way of helping people, particularly people of color, understand how to engage with law enforcement.”

There are three Cs that Brown and Thomas advocate: Control, Comply, and Complain.

“First, is control,” said Brown. “Control your mouth, behavior, sudden movement, and actions. Try to self-regulate and be as controlled as you can. Secondly, comply.

The reason we say comply is because often times, law enforcement is giving commands. We say comply

because street trials aren’t won on the street. Lastly, is complaint. We say complaint because if this officer does something that goes against professional standards, when you complain, you can help this officer have a file or record that provides a history of such that furthermore would not allow him to be in public safety.”

To solidify this from a legal perspective, Attorney Rice adds that a street trial is not something that needs to be sought.

“I think a lot of times, the person being stopped wants to engage the law enforcement officer in a way that is not conducive,” said Rice.

“If someone feels that they have been done wrong, the person can go to court and, of course, hire an attorney like me to represent them. What I have learned as an attorney is that you have to learn how to control the situation and your actions.”

Rice further explains law enforcement immunity, which is a judicially created doctrine that shields government officials from being held personally liable for constitutional violations—like the right to be free from excessive police force and for money damages under federal law, so long as the officials did not violate “clearly established” law.

“Did the officer act in the line or scope of their job description,” said Rice. “If there is in fact a history of this type of performance, then it is not only negligent on the law enforcement officer, but also the law enforcement’s supervisor and agency. The question then becomes what has been done about this officer’s history of performance?”

Brown agrees and adds that as systemic as it is, the problems need to be also addressed at the individual level.

“People get angry when we say bad apples, but the

truth of the matter is that there are some professions that should not have bad apples, including education and law enforcement,” said Brown.

“I travel for a living, I don’t want a bad apple pilot.”

Brown asserts that when we talk about the existence of systemic issues, we are saying that the systems didn’t create themselves. “Individuals created systems,” Brown states. “So guess what, we have systems in place when times were different. When individuals developed systems with the ideology of the 1940s, and the systems are still in place in 2021, we have an issue.”

“As much as individuals can have biases,” Brown added, “and they are good and bad, in fact, if you have a brain, we have them. Those systems maintain those biases. Sometimes those systems need to be dismantled not defund the system.”

Relating to defunding the police, Brown says it would have been easier to say no bad apples...and no bad quality inspectors. “We don’t close public education because of a few bad teachers,” said Brown. “I don’t believe that law enforcement is bad. Some practices and people in law enforcement, however, are bad like in any other professions. But I believe that there are certain professions that should not have bad apples.”

Brown asserts that there is individual work which needs to be done.

“The one thing I think is a starting point to healing is that you can’t heal anything that you can’t reveal,” said Brown. “We have to actually address the fact that racism exists in our country, we have to address it. It has to come out. It is not the elephant in the room. It is the room. Secondly, often times I hear people say that you can’t really understand something unless you experience it. You don’t

have to experience something for it to matter. Until we talk about those issues, those issues will still be the room.”

Brown’s greatest goal is to spread love, light, and insight wherever he goes.

“Of all the things that I do, I believe that love is the greatest of them all,” said Brown. “Of all the things we can express in life, I believe that love is the greatest. I say light because there are a lot of dark spaces and places in the world. I think that if we can pull from our best and look for the best in others then we can all be light. And lastly, I believe insight is one the greatest vision that any individual can have. We are all looking for an enemy, but what if we all started looking for the inner me instead of the enemy.”

About: Ronnie O. Rice is a licensed attorney in the state of Alabama and holds a Ph.D. in Organizational Leadership.

As CEO of The Rice Law Firm, Rice is also a speaker, mentor, entrepreneur, and consultant to some of the most prestigious firms and brands. He is the President of the 100 Black Men of Metro Birmingham Chapter and sits on the board of the A.G. Gaston Boys and Girls Club. Rice is also the creator of the Recognize Opportunities Achieve Success Movement, known as The Greatest Connector.

Dr. Adolph ‘Doc’ Brown, with a Ph.D. in Clinical Psychology, also holds undergraduate degrees in anthropology and psychology with a minor in education, and master's degree work in special education and experimental psychology. Whilst having a strong economic presence in his community with several established businesses, Dr. Adolph Brown continues to be a business, community and educational leader whilst being a generous philanthropist and a continuous learner.

COVID-19 proves why estate planning is so important

To say that COVID-19 has had an impact on every single one of us is an understatement. Even if you have been so fortunate as to avoid the virus itself, you have felt its effect on your day-to-day routines and activities. Each of us has had to adapt to the “new normal” in some degree.

We are living in the age of a pandemic, and as unfathomable as it may sound, it has altered the way we are able care for our sick, comfort our dying, and grieve for our lost.

First, let’s get directly to the point, making a simple Power of Attorney (POA) and a basic Will is one of the simplest, most important and prudent actions you can undertake that can inform others of your final wishes and to ease burdens on your survivors and caretakers. The vast majority of us do not know the exact moment of when our last breath may come, or when our mental abilities will deteriorate. The whole point of these instruments is to have them in place before such an event happens. If you wait until you have lost your competency or your consciousness, unfortunately, you have already waited

until it is too late. There are options available to the families of those who have waited too long to sign, but these options are costly, involve court intervention, and will take some time to put into place.

I always took pride in the fact that my father and I had a law practice that allowed us to travel to a nursing home to help a bedridden client execute a Power of Attorney. I have appreciated the gravity of the moment of sitting bedside in a hospital with the dying as they sign off on their final wishes. I have felt the relief and the weight of worry lift off these clients and their families, and I have witnessed the despair of those who were past the point of my assistance. Unfortunately, in the recent months, that despair has been more common than the relief.

A pandemic changed everything. Early in 2020, our calls began to increase for Wills and POAs, presumably out of fear of the virus.

It signaled that more people were concerned enough to start taking simple steps to have their life plans in place. As the weeks wore on, we began to have an influx of calls to visit cli-

ents in nursing homes and hospitals that desperately needed Wills or POAs. I remember the first time that we were not allowed to enter a care facility, and we were fortunate enough to have a patient wheeled to the front entrance. We were able to pass papers

back and forth under the glass doors to complete the signing. However, as the infected numbers rose and the staff of these places became overwhelmed, we were no longer able to attempt these signings anymore. Hospitals became closed to the general pub-

lic. Last rites were given via Facetime. Funerals had a very limited capacity. It left us feeling helpless and it was crushing for the families who could not be with their loved ones in their final hours.

As awful as the situation was and is, it is a perfect

illustration of why it is so important to go ahead and take a little bit of time and thought, and make your estate plans now. No one could have foreseen how the world changed so quickly, but a Will and a POA are devices that plan for exactly that – the unknown. The same Will that will take care of your family if you died young in a car accident will take care of your family if you died in your elder years from a virus. The same POA that can allow your loved one to take care of you while you were in a temporary coma is the same POA that can allow your loved one to make the excruciating decision to pull you off of a ventilator when your prognosis is poor.

I know it is not the happiest subject to think about, but just a little preparation and time can save you and your family a lot of strife later.

JEREMY P. SUMMERS, ATTORNEY AT LAW 1275 CENTER POINT PARKWAY SUITE 100 BIRMINGHAM, AL 35215 PH. 205.853.3911 FAX. 205.856.0852

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Legal & Finance | The Trussville Tribune

February, 2021

First Community Mortgage makes dreams come true for ‘first-time’ homebuyers

By Crystal McGough

Since 2015, First Community Mortgage in Trussville has been helping first-time homebuyers from all walks of life make their dreams of purchasing a home come true, and according to loan originator Donna Lowery, every homebuyer is a first-time homebuyer.

“Every time someone purchases a home, it’s like their first time,” Donna said. “I treat every person as if they are truly a first-time homebuyer.”

First Community Mortgage is licensed to provide financing throughout the entire United States, with its home office operating out of Murfreesboro, Tenn., but Donna opened the first Ala-

bama branch in the heart of Trussville in 2015. As a 30year Trussville resident and president of the Trussville Chamber of Commerce, the Trussville community is dear to Donna’s heart.

“We are dedicated to helping our local communities by helping others achieve the American dream of homeownership or by helping through hardships with our non-profit - FCM Cares,” she said. “That’s our brand: a company helping others achieve their dreams. We sponsor a lot of events for the high school and the chamber here in Trussville. We are also partnering with Be a Blessing Birmingham to help the homeless.”

Donna said that her favorite way to help the local com-

munity, however, is by helping people who don’t think they can qualify to purchase a house.

“I don’t do this as a job; I do it as a service,” she said.

“I just love what I do because I love helping people and I think that’s definitely what sets First Community Mortgage apart from any other lender.”

With 25 years of experience in the mortgage business, Donna said that she often has clients come to her who have been denied by other lenders.

“Those are the people I want to work with; the ones who say they can’t buy a house,” she said. “You can! It may take a year down the road to reestablish your credit, but you can buy a house. The hardest thing for me to ever

do is just to turn somebody down. That’s why, if they can’t qualify now, I try to get them on a mortgage plan so that they can buy their home in the future.”

A mortgage plan, Donna said, is the list of steps a client needs to take to get their credit scores up and to pay off debt.

“The two things that drive your mortgage financing are your credit scores and your debt-to-income ratio; those are the two things that either keep you from buying your home or make you able to buy your home,” she said. “Different programs have different guidelines for debt-to-income ratio and even credit scores.”

Another important step for first-time homebuyers is to determine where they want to live and how much they

want their monthly payment to be.

“I think that every person who wants to purchase a home should call the lender and get pre-approved before they even start looking,” Donna said. “You can get approved for a $200,000 house, but you may only want your payments to be $600/month. So, then we talk about where that financing would fit in based on where they want their payments to be; not exactly what they get qualified for.”

Donna said that she believes one of her biggest assets is communication, and she is always available to her clients, even in the evenings, on weekends and on holidays.

“I try to communicate everything along the way,” she said. “I have my phone with

me seven days a week. I’m not an 8-5 person and I’m not a Monday through Friday person.”

Nearly all of Donna’s business comes from referrals, which is a testament to the relationships she has built with former clients and people in the Trussville community.

“The only advertising I do is in The Trussville Tribune, but I closed 160 loans in 2020, for $33 million – which is crazy – right here in Trussville,” she said. “I don’t want to brag that I closed that many loans, but I also want people to know that’s how many people trust me, that referred people to me to finance their dream home in one year.

“I’m always here, I’m always happy to take a call, I always want to help people.

What I really want people to know about First Community Mortgage is that we are active in the community, ready to support the American dream of homeownership and stop at nothing to lend a helping hand. Dreams vary and First Community Mortgage wants to help make everyone’s unique dream come true.

Again, I don’t think of this as my job, I think of it as a way to help people.”

Whether you are looking to purchase your first home, 50th home, or even if you have lost hope that you can qualify for a home loan, call Donna Lowery at (205) 515-3645 or stop by First Community Mortgage at 183 Main Street in downtown Trussville.

“It’s important to come in and talk to your lender or call your lender and know what you can buy, because when you think that you can’t, most likely you can,” Donna said. “There’s a way to make it work. Sometimes it takes time, but time goes by really quick.”

What Can Chapter 7 Bankruptcy Do for Me? Bankruptcy may make it possible for you to: • Eliminate the legal obligation to pay most or all of your debts. This is called a "discharge" of debts. It is designed to give you a fresh financial start.

• Stop wage garnishment, debt collection harassment, and similar creditor actions to collect a debt.

• Give you peace of mind and a more restful sleep.

Is Chapter 7 (Liquidation) Bankruptcy Right for Me? When you call an attorney to inquire whether a Chapter 7 Bankruptcy is right for you, please have in hand before calling certain information in order for the attorney to best assist you in determining whether filling will be in your best interest. Items which will assist are: • If you own your home (regardless of whether you have a mortgage against it), the tax assessors value (or a current appraisal) AND a payoff amount issued by your bank.

• Your average monthly income from employment or self-employed job. Add your last six months of paystubs and divide it by six and this will give an average for the previous six months.

• A general value of all your property (including all furniture, electronics and yard equipment) • Payoff information on any vehicle.

• How many people reside in your home.

This information will help the attorney evauluate whether you qualify for a Chapter 7.

What the attorney is looking for with this information is: • Whether you own property over and above state exemptions (which I will detail in a few minutes)

• Whether your income is too high over the last six months to qualify. This is based on Alabama median income figures issued by the Federal government.

• And weigh the risk of losing any property such as a car or home if you should file.

What are exemptions and what does this have to do with bankruptcy?

When you file for Chapter 7 bankruptcy, one of the biggest questions is whether or not you will be able to keep your property.

That depends on which property exemptions you can use on your bankruptcy forms.

They are called exemptions because they “exempt” -- or “excuse” -- certain property from being taken by the Trustee and sold to pay your creditors. In most cases, exemptions protect most dayto-day items that you own, unless you have expensive property like a house or a car.

General exemptions available to most filers are: • Homestead: up to $15,500 in equity (increases to $16,450.00 in April 2021) • Wild Card: $7,500 of any personal property (including equity in vehicles) (increases to $8,225.00 in April 2021) • Retirement accounts are exempt 100% • Clothing, book and family portraits are fully exempt • Burial place is fully exempt This is not a full comprehensive list but the ones generally available to most filers.

Can I wipe out all my debts?

Generally yes, with the exception of: • money owed for child support or alimony, • past due Federal or State Taxes • Most student loans

• loans you got by knowingly giving false information to a creditor, who reasonably relied on it in making you the loan; • Criminal Restitution owed to a victim in a criminal case • Judgements in civil actions based upon "willful and malicious" harm to another, including and up to wrongful death actions • This is not a full comprehensive list but the ones generally available to most filers.

Will I have to go to Court?

In most instances, no. You will be required to attend a creditors meeting where you will meet the trustee assigned

to your case. He is not the Judge. His role is to examine your petition for accuracy and truthfulness, ask you questions about your petition, and if all looks in line, he will consent to a discharge.

How will the filing of chapter 7 bankruptcy affect my credit?

The filing of bankruptcy will remain on your credit for 10 years; however, the effect it has on your credit will diminish each year.

Generally, you will see a sharp decline in your credit score and it will be difficult for you to obtain credit in several years. However, if you pay any reaffirmed debts and other payments timely, you will be able to obtain credit in

about four years at a competitive interest rate. Do not confuse competitive with prime.

I have known individuals to obtain mortgages at competitive interest rates around year four.

Keep in mind that the filing of bankruptcy will likely cause you to pay more for an item than someone who has not filed bankruptcy, meaning: if you file and Susie Q does not, and you both purchase the same vehicle at the same sales price, your payment will be more than Susie Q’s based upon your interest rate being higher.

Will filing of bankruptcy affect my employment?

Generally no. However, if you are in a profession that

routinely checks credit for continued employment, this may be cause for termination.

The filing of bankruptcy can have a negative impact on your ability to get gainful employment in the future, if that new potential employer should so check credit as part of their hiring process.

Keep in mind that all cases are different and that you should not solely rely on this article for a full explanation of the bankruptcy laws. This article just answers common questions and not comprehensive.

Please consult with an experienced bankruptcy attorney to answer specific questions and to see if bankruptcy is right for you.

BANKRUPTCY · FAMILY LAW · CRIMINAL DEFENSE · REAL ESTATE

February, 2021

Legal & Finance | The Trussville Tribune

Page 7

Army Veteran, running for Alabama State House of Representatives District 73

Retired Army Kenneth Paschal is a candidate for the Alabama House of Representatives District 73 Special Election Republican Primary on March 30, 2021. Paschal is a father and Christian who has lived in Shelby County for 14 years where he is an active member of First Baptist Church of Pelham.

“After 21 years of service to my country in the United States Army and 11 years in service in my state walking the halls at the Statehouse as a private citizen,” he says, “I wish to extend my tour of duty as an elected official where I can best serve my community.”

Since retiring from the service with 11 awards and dis¬tinctions including the Meritorious Service and Global War on Terrorism Service Medals, he was appointed Government Affairs Director and the President of The Alabama Family Rights Association (ALFRA). He spent the last 11 years working side by

side with two governors, Alabama Legislators and experts around the country to formulate legislation impacting family law and the rights of parents to direct the upbringing of their children without government interference. Kenneth is also the Immediate Past Commander for The American Legion Post 555 and active member of the Shelby County Chamber Governmental Affairs Group.

Why is Paschal running for office now? “The Lord has been preparing me for something more important, bigger,” says Paschal. The District 73 seat became vacant when Matt Fridy was elected to the Alabama Court of Civil Appeals. Paschal believes he can step into the role and continue representing conservative values while bringing his experience to the table day one. Paschal has a unique leadership style. He puts his boots on each morning and goes to work. He did so unpaid for

11 years making countless trips to Montgomery and has worked 45 hours per week again, without pay for the benefit of others.

“My commitment is to God and country and I will not waiver from that,” Paschal says, adding, “my obligation to God is to serve and to love all people.” Paschal decided to run for office now because of the turbulent times America has recently faced. He sees the need for leadership and for someone to bridge the gap between family and government. He pledges to allow his values to guide him when elected.

When asked what makes Paschal’s candidacy different, he said: “I know the people, I know the legislative process, I have the time and I have a demonstrated commitment to showing up every day to do the work with a servant’s heart. The past 11 years have uniquely prepared me to do the job.” To learn more about Paschal, visit www.KennethPaschal.com.

Legal & Finance | The Trussville Tribune

Page 8

February, 2021

BLOUNT HUGHES, LLC What To Do When a Loved one Passes

Complete

Timing

Item PERSONAL MATTERS Notify immediate family and close friends Arrange care for dependents, if any Arrange care for pets, if any Find and review Decedent’s expressed funeral and burial wishes Notify other members of family and friends Evaluate the emotional impact on the surviving spouse, children and close relatives and friends; arrange for support Notify agent under any power of attorney Notify attending physician PROPERTY MATTERS Evaluate the need for security at Decedent’s residence and change the locks if necessary Find perishable property (food, plants, etc.), arrange for care or disposal Have Post Office hold mail or forward mail to named representative FINAL ARRANGEMENTS Deal with donation of bodily organs to an “organ bank,” as appropriate Arrange for mortuary, cemetery, burial, cremation, as appropriate Prepare and arrange for obituary FINANCIAL AFFAIRS Keep records of all payments for funeral and other expenses Locate income tax returns for last 3 years Locate gift tax returns, if any Investigate veteran’s burial allowance and other benefits Investigate refunds on insurance or canceled subscriptions Investigate Keogh and IRA accounts, including Designations of Beneficiary Work with an attorney to prepare inventory, list of accounts and list of debts Review credit cards and charge accounts, cancel as appropriate Obtain valuations of assets, as appropriate DO NOT pay any of Decedent’s debts until attorney discusses with family or executor BUSINESS AFFAIRS Investigate employee benefits, including accrued vacation pay, death benefits, final wages, retirement plans, deferred compensation, medical reimbursements Investigate business, partnership and investment arrangements Retain and meet with an Estate Planning attorney regarding estate administration, tax and accounting matters Obtain death certificates (ask attorney how many are needed) Deal with fire, theft, liability and auto insurance on Decedent’s property Locate safe deposit box(es); follow safe deposit box procedures Locate wills, codicils, trusts Locate life insurance policies Locate other important documents, relationships, accounts, investments,etc.

Advise Social Security and other agencies as appropriate Investigate social security benefits

This list is not intended to be all inclusive, rather is only a starting point. Everyone’s situation is unique and there may be issues that are not covered on this form. If you ever have any questions or concerns about these matters, please contact your legal adviser. Nothing in this form is intended as tax advice.

This newsletter is brought to you by Blount Hughes LLC, Attorneys and Counselors at Law and is intended as a community service for friends and clients. This newsletter is not intended to provide legal advice, nor is it intended to establish an attorney-client relationship. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other attorneys. Now currently scheduling consultations for the New Year.