Category Archives: Trusts

Your Future after Bankruptcy

Making Bankruptcy decision

Whether you filed for Chapter 7 or Chapter 13 bankruptcy, assume that you own less money and property than before the bankruptcy. However, during the bankruptcy process, the court reports certain accounts and pieces of property under a federal or state exemption.

Community Property or Separate Property

At the time of a death, the legal determinations ensure that the court distributes inheritances in an orderly fashion. Issues may arise during death or divorce depending on whether you live in a community property or separate property state. Based on differing expectations of all parties involved, disagreements may arise.

A Separate Revocable Living Trust (RLT): What is it?

Revocable Living Trust RLTs Married Couples

When a married couple (the grantors) uses a joint RLT for estate planning, they also serve as initial trustees of the trust. The grantors then combine their separate property and joint property into the same trust.