A debtor does indeed have the right to cancel or rescind a debt reaffirmation (an agreement to not include a particular debt for discharge as part of a bankruptcy filing) at any time prior to the entry of a discharge, or within 60 days after the reaffirmation agreement is filed with the Bankruptcy Court, whichever occurs later.
Can I Create a Sole Member LLC to Avoid an Increase in Child Support Payments?
Your question seems to be seeking a suggestion on how to create and then structure pay from an LLC to minimize or avoid meeting an increase in child support obligations. ‘Ask Standard Legal’ chooses not to reply to such a question — not only on principal, but also because it borders on a request for unethical legal advice specific to a highly personal situation.
How Do I Get Past and Future Property Purchases into a Trust?
The Living Trust document is a probate avoidance tool that can be used to create a Trust entity to hold certain real property. This Trust entity is created in order to avoid the probate process upon the death of the Grantor of the Trust.
So what steps are required to get real property and other tangible assets into the Trust?
How Do I Find the Names of the Owners of an LLC?
Limited Liability Company (LLC) filings are made with the Secretary of State, typically in just one state (the state in which the business chooses to register). One way to find the listed owners or members of an LLC is to review the filing in the state in which the business was originally registered. But such a review will not always provide the information desired.
Must I Disclose a Loan Account I Have with a Co-Signer if I File Bankruptcy?
Under the Bankruptcy Code, a debtor is required to list ALL assets and ALL debts on the petitions and schedules that must be completed and filed with the Bankruptcy Court. In doing so, the documents require the disclosure of all co-signed obligations and debts as well.
Must My Sibling Provide a Copy of My Parent’s Will if I Am Not Named as a Beneficiary?
If a person is not named directly as a beneficiary, administrator or executor in a Last Will and Testament, there is no legal requirement that a copy of said Will be provided to a person simply because they are a relative of the Maker.
Must I File with the Court All of the Required Bankruptcy Forms at the Same Time?
It is highly recommended that a person file all of the Bankruptcy documents that are required to be submitted at the same time, one time. But that recommendation is not a legal requirement.
If I File Bankruptcy, Does That Stop a Foreclosure?
A filing for Chapter 7 or Chapter 13 Bankruptcy will stop all debt-related legal proceedings against a person. But only temporarily.
Will I Face Tax Consequences if I Transfer an Existing IRA into a New Living Trust?
Will there be tax consequences to a certain financial move in creating your new Living Trust? Most likely. Will Standard Legal offer any insight on such a topic? Never.
How Does the Attorney-in-Fact Relinquish the Duties of Power of Attorney?
Responsibilities assigned under the designation of Power of Attorney are discretionary for the person named as Attorney-in-Fact (the person who is to carry out the wishes of the designator).
As such, the named attorney-in-fact could always choose not to accept the responsibilities that are associated with the appointment, or simply choose not to act — and as such, the appointment would be without force or effect.
So what steps should be taken by the Attorney-in-Fact to remove himself from the Power of Attorney designation?