September 5, 2017 - Many of the traditional forms of estate planning can be used effectively as asset protection techniques. Gifts of property not intended to defraud creditors remove the assets from your estate. If your child owns the farm, it is no longer at risk from your creditors – although your son’s creditors and his spouse may pose … Continue reading "Simple Asset Protection Techniques"
August 23, 2017 - A Trustee is a person or institution selected to follow the instructions provided by the declaration of Trust. A Trustee has a very high “fiduciary duty” to act with the utmost good faith in dealing with the Trust estate. Many grantors and their respective spouses act as the initial Trustees of a revocable living Trust. … Continue reading "How are the trustees and successor trustees selected?"
August 17, 2017 - Bankruptcy can protect your assets in several ways. In a Chapter 7 (liquidation) case, the trustee will take all your non-exempt assets for the benefit of your creditors. But sometimes you can convert nonexempt assets into exempt ones prior to filing. Exemption planning requires advice from a local attorney because rules vary between states and … Continue reading "Can I use Bankruptcy to Protect My Assets?"
August 7, 2017 - Missing Wills raise all sorts of interesting legal issues which often turn on the specific facts and circumstances, and the probate law of the state in which the deceased resided. The Will may be missing because the deceased intentionally revoked it, in which case, depending on state probate law, an earlier Will or the state’s … Continue reading "What Happens if a Will Cannot Be Found?"
June 3, 2013 - Most Personal Representatives are not prepared for the work ahead of them when they discover that they have been designated to handle the real property affairs of a loved one. A title company can be of tremendous assistance in the journey. One of the most important documents in the transaction is the original vesting deed. … Continue reading "FREE Research and Documentation"