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Living trusts can act as probate-repellent, but some assets need to be ... to place international assets in a trust. To find out if it’s possible, you'll need to consult an estate attorney ...
As the assets aren't considered a part of your estate, they sidestep the probate process. It also lets you continue to use assets transferred into the trust: for example, a house or money from ...
The administrator of an estate is a legal term referring to a person appointed by a court to administer the estate of a deceased person who left no will. [1] Where a person dies intestate, i.e., without a will, the court may appoint a person to settle their debts, pay any necessary taxes and funeral expenses, and distribute the remainder according to the procedure set down by law.
An example of such an asset is the US$15 billion that United Airlines' frequent flyer program, MileagePlus, was estimated to be worth when it filed for Chapter 11 bankruptcy. [ 2 ] In divorce cases, a hidden asset is a property that is hidden by one spouse from the other and, as a result, is more difficult to discover during divorce proceedings.
Asset freezing is a form of interim or interlocutory injunction which prevents a defendant to an action from dealing with or dissipating its assets so as to frustrate a potential judgment. It is widely recognised in other common law jurisdictions [ 1 ] and such orders can be made to have world-wide effect.
According to the Financial Industry Regulatory Authority (FINRA), the only way to split an IRA in a divorce and avoid taxes is to have a court-ordered divorce decree and roll the separated funds ...
In common law jurisdictions, probate is the judicial process whereby a will is "proved" in a court of law and accepted as a valid public document that is the true last testament of the deceased; or whereby, in the absence of a legal will, the estate is settled according to the laws of intestacy that apply in the jurisdiction where the deceased resided at the time of their death.
The family court division of Circuit Court has original jurisdiction in cases involving dissolution of marriage (divorce), child custody, visitation, maintenance and support (alimony and child support), equitable distribution of property in dissolution cases; adoption, and termination of parental rights.
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