Tag Results

3 Tag Results

Pagination:

3 result(s) displayed (1 - 3):

January 04, 2010

Personal Representative

Personal representative refers to a person who manages the estate of a deceased person. Estate administrators are appointed within decedent's last will and testament. If no Will exists, personal representatives are appointed by a probate judge.

A personal representative usually requires legal assistance from a probate or estate planning lawyer. Estate settlement must adhere to state probate laws and involves submitting various documents to the court. Few people are prepared to undergo the process of probate alone.

Real Estate Investing article on "Personal Representative"

June 01, 2009

Life Insurance Trust

A life insurance trust is used to protect insurance proceeds from estate taxation. Beneficiaries are designated within the policy and distribution schedules are established. The life insurance policy is placed inside the trust and managed by a Trustee.

A life insurance trust consists of a Trustor, Trustee and beneficiaries. The Trustor is the person who establishes the trust. The Trustee is the person who manages the trust. This person is designated through the policyholder's Will.

Real Estate Investing article on "Life Insurance Trust"

March 15, 2009

Chapter Eleven

Chapter eleven bankruptcy is used by corporations, partnerships and sole proprietors to reorganize business debts. Oftentimes referred to as 'corporate bankruptcy', Chapter 11 allows business owners time to restructure debt in an attempt to become a viable business.

During chapter eleven, businesses are allowed to continue normal operations. If the company is publically-held the reorganization plan must be provided to investors. Distribution of interest and principal payments to bondholders is prohibited during the reorganization phase. Stockholders are placed at the bottom of the list and unable to collect proceeds until creditors are repaid

Real Estate Investing article on "Chapter Eleven"