A Separation Agreement is a contract, and if the Agreement was valid and binding when signed, it will be valid and enforceable at a later date.
However, if you are looking to use an older Separation Agreement as part of a Divorce filing now, the document must fully and accurately reflect the financial condition of the parties today.
Generally, a pre-nuptial agreement will not “protect” a future spouse from bad debts, as the premise is not correct. Debt incurred in one person’s name is that person’s debt alone. So regardless of the terms contained in a premarital agreement, the debts of one spouse do not become the debts of the married couple — … Read more
Federal law is clear that most student loan repayment obligations are NOT dischargeable in bankruptcy.
While you are free to prepare the bankruptcy paperwork as you see fit and request to have your student loans discharged,
Sometimes items listed for distribution within a Will are designated to specific beneficiaries, but are sold, lost or given away prior to the death of the maker of the Will. And in some cases, those items were to be distributed specifically to a named beneficiary, to the exclusion of others.
But what is the process for the distribution of assets if one of those items, like a house, was to be split amongst all the children while cash was designated only to a specific child — but the house was sold months in advance of the death of the maker of the Will?
Further, if the named beneficiary has died, what rights do the children of the named beneficiary have to the distribution?
The terms contained within a Revocable Living Trust will dictate when the named beneficiaries are to receive Trust assets; or, if the trustee is granted discretion in issuing payments, the payments are required when the trustee determines in his discretion that they are required.
Standard Legal’s Lease Agreement documents are written so that tenants are required or legally obligated to continue making rental payments throughout the term of the lease, regardless of whether or not the tenant remains in possession of the premises for the entire lease term.
Of course, collecting rent from a tenant who no longer occupies a leased premises can be difficult, but the landlord can choose to file a lawsuit to collect any amounts due under the lease agreement should non-payment occur.
Some USA states have residency requirements for the executors (as well as guardians and trustees) appointed in a Last Will & Testament. Under Wisconsin law, for example, non-resident status can be a determining factor in a court refusing to appoint an Executor.
Many states (Ohio and Illinois, as examples) do not have specific legal residency requirements for executors and other fiduciaries. But even though state residency may not be technically REQUIRED under the law, probate courts often PREFER that the executor be a resident of the state so that he or she can be geographically close to the court.
And even in those states where residency is not a legal requirement, the probate court is free to refuse to appoint a named executor due to out of state residency.
Clearing title on a piece of real estate without a signature from one of the property’s owners is a fairly complex legal issue with many variables, including the application of state laws.
Possible solutions include:
Yes, an individual can enter into a lease agreement with a Partnership and also be a member of that Partnership. But be aware that one particular issue may arise and needs to be covered in one of the legal documents relevant to this set up.
Creating a Promissory Note backed, secured or collateralized with real estate may be a problem, as promissory notes are not fully structured for collateral.
A holder of a promissory note is permitted to bring a lawsuit in court to collect money that is due and owing. However, if a promissory note does not also include a mortgage note on the real property “securing” the loan, the holder of the Promissory Note may not be able to foreclose on the property or take any action to remove the owner or tenant.