Lawyer helps people prepare for the financial future


763.633.5299 305 Jackson Avenue Elk River

No matter how much Nancy Roscoe Lloyd longs for a full and complete recovery from the economic troubles of the day, she knows all too well far too many people on Main Street, America have a long way to go.

She finds solace in the fact she has helped and can help free many from financial chains brought on by the economic meltdown.

Some of her clients have stopped the foreclosure process by filing bankruptcy.

About 80 percent of her business as an attorney right now is spent on helping clients navigate the world of bankruptcy. Lloyd helps her clients get beyond the guilt that can come with financial trouble and realize that the law allows for second chances.

“The Legislature has ensured that people get a second chance,” Lloyd said. “The law is designed to help people, not hurt people.”

What’s more is people are not responsible for the shape of the economy. “I would rather see someone spend their energy on figuring out how they’re going to rebuild their future,” Lloyd says.

She helps her clients make good decisions.

“It’s good for people to get advice early on,” she said. “There’s no charge for a consultation, and it can help people figure out their options — when they still have options.”

The worst thing to do, she said, is to spend a lot of time on the Internet. The Internet has a way of building fear in people, she says.

Nancy Lloyd and Sharon Johnston in back and Tiffany Bornetum are part of the team at the law office of Nancy Roscoe Lloyd.

“Sometimes there are options people never thought were possible,” she said.

Many people, however, are experiencing severe financial problems for the first time and don’t know what to do and fear turning to anyone.

Lloyd said bankruptcy is not an embarrassing or humiliating process.  Some have managed to avoid ill-advised moves like cashing in their retirements, which can be exempt when filing bankruptcy.

Short-selling one’s home is often another mistake.

Debt consolidation is not a sure-fire solution, either. The financial problems are often brought on by a loss of a job or a change in health. Many of these struggles are leading to the loss of families’ homes.

Bankruptcy can mean a fresh start, Lloyd points out. It can enable people to get on with their lives.

Lloyd loves helping people through difficult times, and preparing them for the future.

The Michigan native moved to the area six years ago when her husband, Jonathan, was offered a new job and new opportunity. She parlayed her 20 years of experience as a lawyer in the Detroit area into her own opportunity.

Locating in downtown Elk River was the fulfillment of a dream. She opened the Elk River office two years ago after moving her practice from Zimmerman.

“I’m living out a lifelong dream,” she says ecstatically from her office at 305 Jackson Ave. “I always wanted a small-town law practice. I was never a corporate type.”

She enjoys the work.

“I enjoy talking to people, getting to know them and helping people,” Lloyd said. “It’s very rewarding to help people in the community in which we live.”

The 1981 graduate of Michigan State University who earned her law degree at Thomas M. Cooley in Lansing, Mich. in 1984, does estate planning, probate, bankruptcy, family law, business planning and real estate law. Divorce and estate planning are the second and third most common needs people come to her with.


An area that Lloyd has seen an increase in business is working with clients who have gotten a DUI for driving under the influence. She has been able to help them navigate that serious situation.


Divorce work is surprisingly some of her most rewarding work. There’s often a strong sense of helping someone. There’s a lot of talking  and counseling that takes place.

Estate planning

Lloyd is also busy doing estate planning at this time of year. “Many people make New Year’s resolutions to stop procrastinating about doing their planning,” she says.

“It’s the most procrastinated,” she says. “It’s not pleasant to talk about your own death, but its important.”

Lloyd advises local mothers groups and people in general that a good time to do estate planning is when a couple has their first baby, to make sure their wishes are carried out in the event of tragedy.

It’s also important, she says, to seek legal counsel because there are a lot of bad documents out there on the Internet claiming to pass as wills and other legally binding documents. “It can be an expensive mistake,” Lloyd said.

Christian values

No matter what area of law Lloyd is practicing, she brings her Christian values to the table. There are signs of it even in the waiting area, as she has a daily devotional book and literature on an Alpha course offered at Central Lutheran Church where she and her family attend.

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