Sentences with phrase «claims of one's creditors»

A home can not normally be sold to pay claims of your creditors unless your equity in the home exceeds the amount of the exemption.

Currently, debtors filing bankruptcy under chapter 13 may «bifurcate» secured claims of creditors.

Creditor protection is used to describe the ability of the debtor to shield his assets from the collection claims of creditors.

In a worst - case scenario, bullion could be used to meet the claims of creditors.

The answer will depend largely on the degree to which governments back the claims of creditors.

Allow you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more than you really owe.

In a chapter 7 case, you can keep all property which the law says is» exempt» from the claims of creditors.

The exemption systems permit debtors to retain the means of day - to - day living, free from the claims of their creditors.

The term «exemptions» is used to describe the type and amount of property that you are entitled to keep despite the claims of your creditors.

If it can be proven that a beneficiary designation was made with the intention to bypass the claims of creditors, it may be attackable by creditors under provincial legislation.

In either of these cases, provincial legislation protects the entire policy — including the death benefit and cash value — from the claims of creditors of the policy owner during his lifetime and after death.

The reasoning behind this is simple: life insurance proceeds are meant to be property of the beneficiary and as such shouldn't be subject to the claims of creditors of the insured.

The exempt property you keep; the nonexempt property is subject to sale by the bankruptcy trustee to satisfy some of the claims of your creditors.

In addition, federal non-bankruptcy law has provisions that make most retirement accounts such as 401 (k) s and IRAs exempt from the claims of creditors and the bankruptcy trustee.

Allowing you to challenge the claims of creditors who have committed fraud or who are otherwise trying to collect more money than you actually really owe.

When filing bankruptcy, you have a right under law to claim specific property as exempt, or set aside, free from the claims of your creditors.

Assets in a 403 (b) plan receive some protection against the claims of creditors.

Further, under U.S. law, in the case of the insolvency of JPMorgan Chase Bank, N.A., the claims of creditors in respect of accounts (such as the Trust's Deposit Accounts) that are maintained with an overseas branch of JPMorgan Chase Bank, N.A. will be subordinate to claims of creditors in respect of accounts maintained with JPMorgan Chase Bank, N.A. in the U.S., greatly increasing the risk that the Trust and the Trust's beneficiaries would suffer a loss.»

Certain property is exempt from bankruptcy liquidation and may not be used to satisfy the claims of your creditors.

Also worth noting that distributions to heirs at law, which is the formal name for people who take via intestacy statutes, are often inferior, at least in part, to the claims of creditors against your probate estate, although sometimes a family provision or «exempt property» or a joint tenancy or beneficiary designation, will have priority over a creditor's claims.

Until each Nortel unit knows how much money it has, it is nearly impossible to negotiate and settle the more than $ 30 billion of claims of their creditors.

You can also create a comprehensive asset protection plan in addition to your trust, to shield certain assets from the claims of creditors.

Until each Nortel unit knows how much money it has, it is nearly impossible for those businesses to negotiate and settle the claims of their creditors.

Entireties property is generally exempt from the claims of creditors of the individual spouses, and it passes to the surviving spouse upon the death of the other.

All workers» compensation death benefits are exempt from the claims of creditors and all estate taxes.

The bankruptcy court is concerned about the property subject to the claims of creditors and the possibility of collusion, that is, that a husband and wife may act together under the pretext of a divorce to defeat their creditors.

The plain intent of § 3101 (a) is to protect the veteran and his family against the claims of creditors.

Therefore, when the condominiums were purchased in 2006 and 2008, they could not have formed the intent to defeat the claims of creditors.

In my view, the bar against «levy, attachment, or seizure» is simply a means of enforcing the «exempt [ion] from the claims of creditors.»

Upon your death, in most states, the proceeds can pass to your beneficiaries free of any claims of your creditors.

The BMA is part of MassMutual's general account and is subject to the claims of our creditors.

The proceeds of a life settlement could also be subject to the claims of creditors.

In addition, proceeds from the sale of a life insurance policy may be subject to claims of creditors, should such a circumstance be present.

Many states have laws protecting cash values and death benefits of life insurance policies from the claims of creditors.

In many areas of the country, IUL cash values are also exempt from lawsuits and the claims of creditors.