The probate and estate administration process requires a thorough financial review. The personal representative overseeing estate administration assesses financial statements, reads incoming mail, communicates with interested parties and uses estate resources to pay...
In Indiana bankruptcy cases, inheritances are not automatically off-limits just because they come from family or arrive unexpectedly. The rules determine whether the money or property is treated as part of the assets available to pay creditors. What happens to an...
Chapter 7 bankruptcy is the fastest path to discharge available. However, not everyone actually qualifies for Chapter 7 bankruptcy. Some people have high enough income that they cannot pass the means test. For others, the inability to exempt all of their property...
Some people know they could benefit from filing for bankruptcy, but they are still hesitant to do so. One reason is that they blame themselves. They think they made financial mistakes that led to overwhelming debt, so they believe they need to find another solution...
When a person passes away with remaining debt, the duty of paying off that obligation falls on the estate executor. If the individual had an estate plan in place, they may have chosen this executor themselves. If not, one would be assigned during probate. The reason...
People who are facing mounting debts may decide that they need to file bankruptcy to regain control of their finances. Consumers typically file a Chapter 7 or a Chapter 13 bankruptcy, both of which end with a bankruptcy discharge when a case is successful. A...
Many people who are named as personal representative (often known as “executor”) of a loved one or close friend’s estate don’t anticipate just how complicated it can be. Even relatively small estates can present complications – particularly if the deceased’s estate...
As an estate’s executor, one of your duties is communicating with beneficiaries. Acting in the best interest of the estate, as your fiduciary role requires, involves being transparent with beneficiaries. When you fail to communicate effectively, they can file a...
Perhaps you felt up to the task when asked by your loved one to act as the executor for your parent, sibling or spouse. But when you actually take on the duties of the job, you may find yourself too mired in grief to complete the necessary tasks. Accepting the role of...
Filing for bankruptcy is a major decision in your life, but it is one that can come with great financial freedom. Consumers often file either a Chapter 7 or a Chapter 13 bankruptcy. While both of these can provide a fresh financial start, Chapter 7 is generally...
