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Depending on the financial and familial needs of a client, there a number of options available in the estate planning process. One such tool is a spendthrift trust. A spendthrift trust can be considered a type of living trust. Ultimately, a spendthrift trust is a useful tool when the grantor wants to limit access of the assets to the beneficiary, avoid probate for the assets listed in the trust, and protect certain assets from creditors.
September 5, 2024
In a previous podcast & videoblog we discussed the Chapter 7 Bankruptcy Process. In this article we will discuss what happens at the First Meeting of the Creditors in a Chapter 7 case.
When your bankruptcy petition and schedules are filed, the court will schedule a meeting with the trustee called the First Meeting of the Creditors. Although notice of this meeting is sent to everyone you list as a creditor in your petition, it is extremely rare for a creditor to actually attend.
September 5, 2024
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