A “TIN” (Taxpayer Identification Number) is a number created through the IRS to track specific accounts and ventures for ease of tax reporting. [ Read More… → ]

If you believe that your sibling has engaged in criminal conduct (i.e. took cash for personal expenditures, opened credit accounts in the parent’s name for personal use, cashed life insurance policies, etc.), you should contact your local police department concerning the issue.

If you wish to recover such funds, or attempt to revoke the Power of Attorney, or to work to adjust any long-term family estate issues, we strongly suggest you find a qualified local attorney to help you with your situation; you can find one for FREE at Standard Legal’s Attorney Finder page.

The answer to this question depends on which state and county the Donor (the person making the Trust) or the Maker (the person creating a Will) resides.

In the vast majority of states, a Living Trust and/or a Last Will and Testament do NOT need to be registered or filed while the Donor or Maker is alive. [ Read More… → ]

Transferring vehicles to a Trust requires that the vehicle title be changed so that the Trust is the owner of the vehicle.

Likewise, the obligation to pay (i.e. the loan) should also be transferred to the Trust, but doing so would require a separate loan or note to be executed with the lender who financed the vehicle. [ Read More… → ]

Let’s use an example of a husband and wife who do not “mix finances”. The wife owns the house solely in her name, and the husband has a business solely in his name with debts both personal and under the business. They carefully keep completely separate bank accounts, credit card accounts, etc. [ Read More… → ]

Upon death, the expenses owed by the decedent (i.e. the person who has died) are usually due and owing to creditors by that person’s estate.

The Executrix of the decedent’s Last Will & Testament usually opens a probate case to administer the decedent’s estate, in an effort to settle all creditor debts and to distribute the assets per the terms of the Will.

If there are positive assets of value belonging to the decedent at the time of death, creditors of the decedent can usually make a claim for payment of expenses against the assets of the estate. [ Read More… → ]

Ownership of real estate is evidenced by a deed.  If two people are listed on the deed as joint owners, each owns an undivided one-half interest in the whole of the property.

Mortgages, on the other hand, are encumbrances placed upon real property by a lender to secure payment of a loan.  A mortgage signed by one person to purchase real property encumbers that person’s one-half interest in the real property. [ Read More… → ]

In an LLC, the owners of the Limited Liability Company are referred to as “Members” (similar to owners in a corporation being referred to as shareholders). [ Read More… → ]

Searching title records prior to filing a quitclaim deed is a good idea, to see if becoming the owner of a property might also cause you to become liable for third party claims. But a title search doesn’t have to be expensive — in fact, it can be “free”. [ Read More… → ]

In most states, mobile homes are “titled” like vehicles and are not considered real property (where ownership is evidenced by a deed, like land or a permanent home). [ Read More… → ]

Selling a house via Land Contract or Contract for Deed allows the seller to finance the purchase price on behalf of the buyer. The seller maintains a financial interest in the home until the buyer pays off the Land Contract fully.

The question of insurance comes into play when the property detailed in the land contract is under mortgage with the seller, and not owned outright by the seller. [ Read More… → ]

Standard Legal’s Bankruptcy forms software requires the filer to make decisions regarding the inputs on any form. The legal forms software doesn’t “adjust” any decision-making required; a filing with the Court requires the user to decide who is filing and create inputs accordingly.

However, complete instructions and overviews on these types of requirements and decisions are included in the package.  [ Read More… → ]