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Trustees often have specific rules regarding the conduct of their 341 meeting of creditors. And while many procedural rules are common to all Trustees, there can be slight differences in their actions or requirements. [ Read More… →]

Many people hope that they need not include their car in bankruptcy, especially if they are not behind in their payments. But is a person still required to list their car on the bankruptcy filing regardless?

Under bankruptcy law, all assets, debts and obligations are to be listed on the petition and schedules.  [ Read More… →]

Wills are not “filed” with a court — they are signed, attested then distributed to the Will’s executor, family members, and other trusted advisors and persons.

If a person you know has become incapacitated or died and you are attempting to locate a valid copy of his or her Will, the best idea is to contact persons close to or related to the maker of the Will.

Making certain that a completed legal document like a Will, a Living Will, a Living Trust, a Promissory Note or a Premarital Agreement will remain valid for many years after its original signing is a legitimate concern, and one to be taken seriously. [ Read More… →]

Vehicles can be transferred into a Living Trust so that the Trust holds the title or ownership to the vehicles. Upon the death of the Grantor of the Trust, the vehicle continue to be owned by the Trust and do not need probate court or bureau of motor vehicle approval to transfer title to the beneficiary named in the Trust document. [ Read More… →]

A written contract should be completed for the sale of a mobile home, but it would not be a real estate agreement: in most cases a mobile home is not tied to land and therefore is considered personal property. [ Read More… →]

The abbreviation TTEE is shorthand for the word “Trustee” — the person who executes the terms contained within a Trust.

Before filing for a second Chapter 7 bankruptcy case, a debtor must wait eight (8) years after filing the first case in which a discharge was granted.

But in some cases there can be a significant amount of time that passes between the original filing and the date the Bankruptcy is officially discharged by the Trustee. So which date is used as the starting date for the implementation of the 8-year rule, should a person needs to file a second bankruptcy proceeding? [ Read More… →]

Typically, there are two options to changing the name on an existing Trust, assuming the existing trust was validly executed and properly funded:    [ Read More… →]

A Power of Attorney (POA) document would most likely not provide any help in a temporary child care situation for grandparents; children cannot grant another person any rights through a POA since they are minors, and POAs cannot be created that assign rights for a third party (i.e., a mother cannot create a POA that assigns rights on behalf of her children). [ Read More… →]

A Living Trust is a written agreement that should, if properly drafted and executed, be valid in any state in which a person resides.

The location of the person’s residence or the location of the assets used to fund the trust are not relevant to its validity. Even if the assets of the original Trust are disposed, the Trust remains valid and is not tied to any specific location. [ Read More… →]

Merely adding another member to an existing LLC generally does not require a document to be filed with the Secretary of State. [ Read More… →]

Setting up a new Limited Liability Company (typically called an LLC) offers the business owner(s) protection from potential creditors and other claims (i.e. it insulates your personal assets). But these protections will only exist if the business operations are conducted under the Limited Liability Company name in all respects.

As such, it is very important that Company money be kept separate from any funds that you maintain in your personal bank accounts (or accounts of other entities), and that you do not place your personal funds into the new business bank account, or otherwise commingle funds. [ Read More… →]

Merely owning real estate or property does not automatically cause one to be obligated under the mortgage that encumbers said property. To be liable under the note and mortgage, one must sign the note and grant the mortgage in the property. [ Read More… →]

Generally, the language of the Promissory Note itself would have control over any payment schedule that is not incorporated directly into the note.

But if the amortization schedule is incorporated directly into the Promissory Note (by language in the Note that makes direct reference to the schedule), then there is an ambiguity as to the obligations of the parties. [ Read More… →]

For those states whose dissolution process permits such a name change, yes, Standard Legal’s No-Fault Divorce legal forms software (for couples without children) provides the language necessary for the wife to revert to the legal use of her maiden name after the uncontested divorce process is completed.

No special form is required to state income for payments received from Social Security. Social security payments are to be reported on both Schedule I as well as on the Means Test (Form 22), as any other income would. Get complete information on Standard Legal’s Bankruptcy legal forms software.

On occasion in a pro se Divorce or Separation, one spouse will quitclaim their house to the other spouse as part of the agreement. But many times in this situation, the couple does not adjust the mortgage contract for the property, as doing so can sometimes invalidate the mortgage and/or require a balloon payment on the balance. [ Read More… →]

The person chosen as Executor of a Last Will and Testament should be at least minimally qualified to take the steps necessary to gather the assets of the decedent’s estate, pay any and all creditors who may have a claim against the estate, and distribute the remaining property of the estate per the terms of the Last Will & Testament.

That being said, a person named as a beneficiary in a Will can also serve as the executor or executrix of the estate. [ Read More… →]

The Trustee assigned to preside over the debtor’s 341 meeting of creditors may request that the debtor provide bank statements. So bringing copies of bank statements (from the date that the case was filed back) to the 341 meeting of creditor may be a good idea.

But the bankruptcy code does not require that bank statements be filed at the time the case is filed with the Clerk of the Bankruptcy Court.

Complete instructions for completing the forms and filing a Bankruptcy case are included in Standard Legal’s Bankruptcy legal forms software.