Typically, an executive director or CEO can represent a corporation in day-to-day business functions. But the chief executive of a corporation or LLC cannot represent the corporation in a court of law, as legal counsel, or as part of a litigation.
Must My Beneficiaries Pay Taxes on the Last Will and Testament Assets I Bestow Upon My Death?
Whether or not a beneficiary listed in a Last Will and Testament pays taxes on the assets provided in that Will depends on whether the decedent\’s estate is of sufficient value that estate taxes (be they federal, state or local) will be levied upon the transfer of the property.
The short answer is, it depends upon the value of the estate.
What Should I Do If I Cannot Provide My Tax Returns to the Trustee Prior to the 341 Meeting?
In most cases, a 341 meeting will not take place without the filer’s tax returns being provided to the Bankruptcy Trustee. But there are steps you can take to rectify the situation.
How Do I Find the Consumer Classes Required for a Bankruptcy Filing?
Within Standard Legal’s Bankruptcy legal forms software, links are provided to the REQUIRED CREDIT COUNSELING and the DEBTOR EDUCATION PROGRAMS, along with information on all of the requirements and the Bankruptcy Court’s recommendations related to these programs.
Can I Gift Real Estate to a Sibling Using a Quitclaim Deed?
A quitclaim deed is exactly the document a person would use to transfer ownership interest and title for a piece of real estate, be it as a gift or sale. But there are two considerations in completing this transaction.
Are Financial Judgments from Arbitration Discharged in Bankruptcy?
For the purposes of bankruptcy, judgments obtained through arbitration are treated the same as judgments obtained through the more traditional court process.
How Does the Creation and Execution of a Quitclaim Deed Affect an Existing Mortgage?
A person can transfer ownership in real property to a third party via quitclaim deed and this can occur even if the property is mortgaged. But a number of situation-specific considerations must be reviewed.
Who Places the Initials on the Bottom of Each Page on Standard Legals’ Documents
The person who is the primary signator of the legal documents being created should place his or her initials at the bottom of each page, on the small lines provided on each Standard Legal form. These initials should be made at the time of the signing of the documents, and done so in front of … Read more
How Many Persons Must Be Involved in a Business to Legally Incorporate?
In just about every state, only one person needs to take the actions necessary to incorporate a business or to file for LLC status. But the requirements do differ by state.
How Do the Children Get Proceeds from the Sale of our Deceased Father’s House from a Stepmother Who Was Only to Live There?
This question addresses a highly complicated legal situation.
In retrospect, the best way to effectuate the desires of the father in this situation would have been to change the property’s Deed to grant a ‘life estate’ to the stepmother, with a remainder interest to the children. That way, the mother was free to reside in the home for the duration of her life and upon her death the ownership would have passed to the children.
But even in the probate of the estate after the father’s death, such a situation can be created. If the father used a Will rather than a Deed to convey his wishes, the probate process itself can be utilized to create the same ‘life estate’ result, with a life interest being transferred from the probate estate to the stepmother while she is alive and a remainder interest to the children after she passes.
Either way, both of these process can be complicated and the use of a qualified attorney is highly recommended.