by ealberto
The legal distribution of assets and property left by someone who has died is called ‘probate.’ It is a process of law, involving government and courts, that ensures proper and legal distribution of their assets. Even if the deceased person had a legal...
by ealberto
A will is a written document that defines how your assets will be distributed after you die. Trusts are legal arrangements that involve a separate legal entity to hold and distribute assets — during your life, after your life, or both. As an alternative to...
by ealberto
Bankruptcy is a set of legally-defined ways for individuals or businesses to settle debts without full payment, by following rules that govern their assets and financial actions for a period of time. There are two broad types, liquidation and reorganization. Under...
by ealberto
When a person or business concludes that meeting their debts is not realistic, they may file for bankruptcy in Federal Bankruptcy court. A bankruptcy filing places an automatic stay on debt-related actions and judgements, including wage garnishment —...
by ealberto
Filing for bankruptcy starts with disclosing all financial information. This is done on a form called a ‘bankruptcy petition’, provided by the US Bankruptcy Court. The bankruptcy case starts when the bankruptcy petition form is filed. Both individuals and...
by ealberto
US law allows courts to declare individuals and businesses bankrupt, allowing them to settle debts without full payment. Filing bankruptcy is a legal action asking the court to make this declaration; deciding to file should account for: –Debts that are owed...
by ealberto
When a couple marries, they gain the legal right to do certain things together, such as own property or owe debts. Divorce is the legal termination of marriage; the legal status, responsibilities and arrangements of the married couple are cancelled. Divorcing requires...
by ealberto
When the legal state of marriage is ended by divorce, legal commitments by the couple – property, debts and more – must be resolved. While laws vary by state, the divorce process generally involves distinguishing ‘community property’ that was...
by ealberto
If a marriage with children is legally ended by divorce, access, time and legal responsibility for the children – ‘custody’ – must be decided. Custody arrangements include physical custody, parental visitation rights, and legal custody. ....
by ealberto
These comparisons to board games might help you understand patents, trademarks and copyright – the main forms of intellectual property. Imagine a game rule that says, you can make up a new rule. If the banker allows the rule, you get exclusive use it for 20...
