When an estate plan is created, it allows a person to prepare for what will happen to their assets when they die. There are several different ways a person can make this plan, one being the creation of trusts. A trustor creates this so that a beneficiary can receive their assets. A trust is an…
It is very hard to run a business. Owners work tirelessly to ensure their success and make a profit. Sometimes, running a business does not always go as planned. When a business struggles financially, the owner may need to look into filing for bankruptcy. While it may seem intimidating, doing so can help a business…
When people reach the end of their lives, they usually have assets that they cherish and want to pass on to loved ones. This is why it is important for them to be proactive and create an estate plan that allows them to do so. With an estate plan, an individual is able to…
In response to delinquent or defaulted payments, a property becomes an REO (another term for bank owned property) when a lender takes possession of a property. Most bank owned properties are because of late payments, no payments, or missed deadlines. In general, there are three ways in which a property becomes bank-owned: Deed-in-lieu of foreclosure…
When a person reaches the end of their life, they usually have many cherished assets. These are things that should be passed on to loved ones to continue to be taken care of when their life is over. This can be done with the creation of an extensive estate plan that prepares for what will…
There are many people who struggle financially at different points in their life. When this happens, it can be a stressful situation that is hard to keep under control. If an individual finds themselves in this situation, it can be beneficial for them to consider filing for bankruptcy to regain control of their financial situation….
When an estate plan is created, an individual is preparing for what will happen to their assets and belongings after their life is over. Part of administering an estate after a person dies is the process of probate. Probate exists to determine whether or not a deceased individual’s will is a valid document. It also…
While the idea of filing for bankruptcy can often have a negative stigma, the reality is that many people struggle with finances in their life. Dealing with poor financial situations can often be stressful, as some may face losing their home or not being able to support their family. Filing for bankruptcy can be very…
When an estate plan is created, it is because an individual wishes to prepare for what will happen to their assets after their death. When this is done, people often create a will or trust to ensure the assets end up in the right hands. This allows the individual to pass these belongings to certain…
When an individual files for bankruptcy, they create a plan on how to pay back their debt. After this is done, certain steps must be followed to complete the process. Regardless of whether individual or business bankruptcy is filed, the individual will attend a meeting of creditors. This is sometimes referred to as the Section…
