Tag Archive for: trustee

Being a Trustee is a Tough Job

I do a lot of estate planning work and often times a simple family trust is needed to appoint someone to manage finances on behalf of minor children.  The decision to appoint someone to this position should be taken very seriously, because their mismanagement of funds could cause your children a serious financial loss.  On […]

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The Importance of Gathering Documents in a Timely Manner When Filing for Bankruptcy

Why You Need to Gather So Many Damn Documents When a client retains me for a bankruptcy consult, they need to gather quite a bit of information in order for me to file their petition.  The bankruptcy Trustee looks at the last six months of household income in order to determine if the debtor(s) fall […]

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Why would a bankruptcy trustee apply to appoint legal counsel?

When you file for bankruptcy you must appear in front of a trustee, who has the responsibility of overseeing your bankruptcy. While the trustee mainly has the duty to review the bankruptcy petition, examine the debtor under oath, and oversee the payment of creditors, there are times when a trustee might actually need to hire […]

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How can filing Chapter 7 bankruptcy affect your business?

When a Chapter 7 bankruptcy is filed, an immediate hold goes on any collection activities by your creditors. In a personal bankruptcy, all dischargeable debts go away and the debtor is no longer responsible for paying the debt. A trustee sells of any non-exempt assets and pays creditors in order of their priority. For a […]

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The Role of the Bankruptcy Trustee

The Trustee’s Role in a Chapter 7 Bankruptcy When a debtor files a Chaptor 7 bankruptcy the United States Trustee appoints a trustee to liquidate any non-exempt assets of the debtor and dispense those funds to the creditors.  Each state sets different exemption amounts for different types of property. The Trustee’s Role in a Chapter 13 […]

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