If a Limited Liability Company (LLC) or Corporation is set up only to ‘hide assets’, a debtor could pursue legal action to pierce the corporate veil and seize the assets of the fraudulent LLC or Incorporation.
Does an Adopted Child or Step-Child Automatically Share in the Assets of a Will?
If a person making a Last Will & Testament wishes to include ANYONE in a Will, the maker of the Will should list that person specifically as a beneficiary — even a child, step-child or adopted child.
Listing a person by name in a Last Will and Testament clears up any potential confusion that could arise.
Does a Real Estate Power of Attorney Remain In Force After the Death of the Owner?
The authority granted under a standard Power of Attorney terminates upon the death of the person creating the Power of Attorney document.
Can a Landlord Change the Terms of a New Lease After the Document Has Been Signed?
In this case, the person posing the question states that his landlord left with a newly signed lease to make copies, but returned later with a lease that contained different terms. He claims the landlord added new terms and rules to the document, but the landlord replied that the terms and rules were in place and that the signer simply didn’t read the document.
Of course the terms of a contract cannot be changed legally after signatures are provided.
And of course it is the responsibility of the persons signing the contract to read and fully understand the terms of the contract in front of them.
A simple tactic can keep this type of situation from turning into a case of ‘he said/she said’ or having to prove a contract’s terms later.
Can a Surviving Grantor Parent Change the Terms of a Trust on Which Our Entire Family Has Agreed?
While it depends completely upon the type of Trust originally created, in most instances a Trust can be altered.
Can I Remove a Living Person From a Deed if They Have Left and I Cannot Locate Them?
An owner of real estate can file a “quiet title” action asking the court to issue an order vesting title in the person bringing the lawsuit. But the process requires some very specific steps, and is left up to a judge to decide.
If My Financial Situation Worsens, Can I Convert My Chapter 13 Bankruptcy to Chapter 7?
A debtor in a Chapter 13 bankruptcy plan has the right to convert his or her bankruptcy case to a Chapter 7 case. But the debtor needs to qualify for the Chapter 7 treatment (i.e. the debtor must meet the “means test” threshold and his or her disposable income must be such that the Chapter 7 case is proper).
Can I Replace a Payable Upon Death Deed With a New Deed in a Different Format?
Yes, a new Deed can be prepared and filed to replace a Payable Upon Death deed. The provisions of the newly created Deed will supersede the Deed currently on file.
Will Placing Assets into a Trust Prevent Having a Lien Placed Against Them?
Generally, Revocable Trusts are probate avoidance tools, allowing assets transferred to the Trust to avoid the probate process on upon the death of the Donor of the Trust.
Irrevocable Trusts, on the other hand, may provide some liability avoidance benefits. But transferring any assets to an Irrevocable Trust forever divests the donor of true ownership interest, so these types of Trusts must be used carefully.
What Changes Must I Make to Complete Trust Documents for a Family Member in Another State?
Simply follow the instructions provided in the legal forms contents, but do so with the clear understanding that the person signing the documents is the only person ‘completing’ or creating the Living Trust pro se.