Trustee

("Chapter 13 - Bankruptcy Basics.") These documents are essential for the court and the court appointed trustee to verify the information on the petition. In addition to the schedules and other supplementary forms, the debtor must also turn over the previous year’s tax return to the trustee. Similar to the other forms of bankruptcy, a petition stays all creditors from taking legal actions to collect outstanding debt. Chapter 13 bankruptcy also contains…

The town hall meeting was located in the village of Mundelein. The meeting started of with the roll call of the committee or trustees at the meeting. After the roll call, everyone at the meeting did the Pledge of Allegiance. The meeting was being held at the week of Thanksgiving and the mayor was giving thanks to the village and his board members. The mayor felt that the village benefited by the volunteer work that happens in the community and that it brings the community for unified and…

Elected officials in democracies often struggle in their role as a representative of the “people.” Should they act more like a delegate or a trustee? In Edmund Burke’s speech to his constituents of Bristol, he argued that the representative is a member of parliament. Hence, he serves for the interest of the nation, of the general good, rather than the particular interests of his particular constituents. That being said, he stated that representatives should listen and consider the…

recovery plan. Even different capital increase proposals were below what was expected as collateral. With this decision into liquidation, a procedure is deployed. The judge appointed a chartered accountant as a trustee and a justice commissioner who take orders. Management is discarded. The trustee is responsible for conducting and recovery operations and liquidation from the opening judgment until the close of the procedure. It monitors the implementation of the continuation plan and carry out…

impact of equity ; general rule is equity will not assist a volunteer to perfect an imperfect trust. A valid trust must be declared and perfectly constituted. By constitution we mean the transfer of the subject-matter from the settler to the intended trustee. The trust which…

Eric Lefkosky is an American entrepreneur who has been part of a variety of successful start-up ventures, most notably the popular e-commerce site, Groupon. Originally from Southfield, Michigan, he attended college at the University of Michigan where he earned both his undergraduate degree and Juris Doctor. His career began while still in college where he began selling carpets. From there, Mr. Lefkosky purchased a sports apparel company with a college friend, Brad Keywell. That business…

An Individual Retirement Account or IRA is a "must have" for a comfortable retirement. The good thing about this savings account is that you can select from the variety of IRAs available, wherein each has different benefits and tax structures. Many investors believe that the most efficient retirement vehicle is a self directed Roth IRA. The most distinct characteristic of Roth retirement accounts is that the funds you will contribute can be distributed when you reach your retirement age…

property to another with the communication of an intention for that person to deal with the property in a specific manner and the trustee accepts such an obligation . Like any other valid express trusts, a secret trust have to fulfil the requirement of three certainties, i.e. the intention of the testator, communication of the intention to the trustee and an acceptance by the trustee to bear such an obligation . Generally, there are two types of secret trust that may arise, i.e. fully secret…

entails the interaction between two parties: party one, the trustor, who is willing to rely in the actions of party two, the trustee. Furthermore, for a trust situation to be established, the trustor has to abandon control over the actions performed by the trustee, which will lead to an uncertainty on sides of the trustor, leading to a risk situation that may occur, if the trustee does not behave as wanted (Mayer et al. (1995); Bamberger, Walter (2010)). Another widely accepted definition of…

Prince’s Estate: Who Are the Heirs? When Prince died on April 21, it was a shock to many of his fans and those in the entertainment industry. However, a bigger shock was about to hit the news feeds — Prince died without a will. How could someone that had achieved the fame and fortune of Prince die without a will. Wasn’t he surrounded by mangers, attorneys, accountants and other profession who would have advised the entertainer to have a comprehensive estate plan? You would think so, but for…