Assistant at Law

If someone leaves you money in a will, who will contact you? Min Austria Assistant at Ascent Law LLC If you're named as the recipient of a gift in someone's will, it's important to know what will happen after they pass away. Who will contact you? How long will it take for you to get the money? Briefly explain what happens in your state: When someone passes away and leaves you money in their will, the responsible party is usually their estate executor—the person appointed by a court to carry out the deceased's wishes. The executor is charged with finding any legal documents, such as wills or trusts, that could have been left by the deceased and opening whatever bank accounts or safe deposit boxes might contain additional information about their last wishes. Once the executor finds these documents, he or she puts together a list of all potential recipients and sends them letters letting them know they've been named in the deceased's will. This process can take sev...

How long does it take to lose a house through bankruptcy proceedings? Min Austria Assistant at Ascent Law LLC When you file for Chapter 7 bankruptcy, the Bankruptcy Trustee will sell off your assets and use the money to pay off some of your debt. Depending on how much property you have, it can take a while to wrap up your affairs. In order to get a quick idea of how long it takes to lose a house through bankruptcy proceedings, we looked at statistics from 2006-2010 on the average length of time it takes for the sale of assets in Chapter 7 cases. 36% of bankruptcies were liquidated in less than one year. 47% of bankruptcies were liquidated in 1-2 years 17% of bankruptcies were liquidated in 2-3 years 5% of bankruptcies took more than 3 years to complete If you have any questions or need a  Real Estate Bankruptcy Lawyer , please call this law firm for a free consultation. Ascent Law LLC 8833 S Redwood Road Suite C West Jordan UT 84088 (801) 676-5506 Utah Lawyer for Divorce Business B...

How long can a trustee keep a bankruptcy case open? Min Austria Assistant at Ascent Law LLC Bankruptcy cases can be in limbo for years, but there's a time limit on how long a trustee can keep it open. In most bankruptcy cases, a trustee is assigned to oversee the liquidation of the debtor's assets and the distribution of those assets to creditors. Usually, this process takes at most 10 years, but in some cases, a trustee can keep it going after that period is over. This is called "tracing over." A trustee's duty is to see that a bankrupt estate is administered properly. This means getting in touch with creditors, trying to collect debts owed, and looking into claims of fraudulent transfers or other actions that might hinder the ability of creditors to collect from the debtor. While most of these duties appear on their face to be pretty straightforward, there are some complicated regulations that govern what a trustee can and cannot do. If you have any questions or...

What is a bankruptcy trustee? Min Austria Assistant at Ascent Law LLC When you're struggling with money, it can seem like help is nowhere to be found. It's easy to feel like you're all alone, and that no one will ever understand what you're going through. But bankruptcy trustees exist to help people just like you who are in need of financial assistance. They serve as an invaluable resource for those who want to get back on their feet after a financial crisis. Let's talk about what a bankruptcy trustee is, how they can help, and why they're so important—whether your own bankruptcy (Chapter 7 or Chapter 13) or that of someone else who has fallen on hard times (individual or business). A bankruptcy trustee is a person appointed by the court to oversee and manage a bankruptcy estate. The bankruptcy trustee has several main duties, including making sure that all creditors receive payments from the bankrupt debtor, paying for costs related to the administration of the...

What is important in divorce, to be a petitioner or a respondent? Min Austria Assistant at Ascent Law LLC When you are deciding to file for a divorce, there are many factors to consider. How will it affect your children? What is your financial situation? How will this impact your career? If you have been married for a while, you may have accumulated assets together. When the time comes to file for divorce, it is important that you understand the difference between being a petitioner and a respondent. While either one can be the next step in your family law case, it is important to know what each role entails. This means that if you are filing for divorce as a petitioner, you are the person that wants the divorce to occur. You will be responsible for contacting the other party (the respondent) and telling them about your intentions. You will need to formally notify them of your desire to end the marriage by sending them a petition for divorce as well as information regarding their right...