Sentences with phrase «distributing assets after»

Probate is the legal process of gathering assets, determining creditors and beneficiaries, and distributing assets after all creditors have been paid.

Trusts can also, when executed properly, keep trust assets out of probate, the potentially lengthy legal process of assessing and distributing your assets after you die.

Not exact matches

If you care about how your assets would be distributed after your death, write a will.

After the income stream period ends, the remaining assets are distributed to the non-charitable beneficiaries.

After the income stream period ends, the remainder assets are distributed to the non-charitable beneficiaries.

Furthermore, the fund is designed to distribute its net asset value to shareholders in cash shortly after the fund's end date.

Kraken was selected in November 2014 by the MtGox trustee after extensive and objective review to assist MtGox creditors in investigating missing Bitcoin, filing claims, and distributing remaining assets.

If the Trustee resigns and no successor trustee is appointed within 60 days after the date the Trustee issues its notice of resignation, the Trustee will terminate and liquidate the Trust and distribute its remaining assets.

Upon dissolution or winding up of said corporation's affairs, whether voluntary or involuntary, all of its assets then remaining in the hands of the board of directors shall, after paying or making provision for payment of all of said corporation's liabilities, be distributed, transferred, conveyed, delivered, and paid over only to educational, scientific, literary, or charitable organizations that are exempt from federal income tax under section 501 (c)(3) of the Internal Revenue Code of 1986, as amended, and which are not private foundations within the meaning of section 509 (a) of the Internal Revenue Code of 1986, as amended, on whatever terms and conditions and in whatever amounts the board of directors may determine, for use exclusively for educational, scientific, literary, or charitable purposes, except that no distribution shall be made to organizations testing for public safety.

Upon the dissolution of the association known as the New Jersey Association of School Librarians, Inc., the Board of Trustees will, after paying or making provision for the payment of all of the liabilities of the Association, distribute the remaining assets to such organization or organizations organized and operated exclusively for charitable, educational, religious, or scientific purposes as will at the time qualify as an exempt organization or organizations under section 501 (c)(3) of the Internal Revenue Code of 1954 (or the corresponding provisions of any future United States Internal Revenue Law), as the Board of Trustees will determine, or to a state, federal or local government for a public purpose.

You might want to consider what happens to your 401k assets after you die because you can make decisions now that affect how the plan assets are distributed after you pass and how your beneficiaries will be taxed on the amounts they receive.

A board could even decide to dissolve the company and distribute the net assets (after paying debts and dissolution costs) to the shareholders — but this is seldom done because there's often more profit in remaining a going concern.

Even though Dave left his assets to his family in his will, those assets couldn't be distributed until after the probate of his estate was complete.

Super assets can not be included in a will, but your fund may allow you to make a «binding nomination» so that your super will be distributed as you wish after you die.

An estate plan includes your will as well as any other directions on how you want your assets distributed after your death.

Your partner will probably have left a «will», or legal document that sets out how they wanted their «estate», or personal assets, to be distributed after their death.

As a last resort, you can declare a Chapter 7 business bankruptcy, turning over the business to the bankruptcy trustee who will sell its assets, go after any outstanding accounts receivable, pay owed taxes, and distribute any remaining funds to creditors.

For spousal care after your death, an experienced trustee will follow your directions to provide the necessary stewardship to assure that your assets are invested and distributed wisely for the continued benefit of your loved ones.

For Chapter 7, the non-exempt assets are sold and the proceeds distributed to creditors — after that you are free of dischargeable debt.

The assets are distributed to the beneficiary of the Roth IRA owner after the Roth IRA owner's death.

ASPN «needs to complete certain calculations before it is able to determine the dollar amount of the assets to be distributed» but «believes it will be able to make this calculation after the October 28, 2009 settlement date based on preliminary tax calculations.»

Following the Fund's termination date, the Fund will distribute substantially all of its net assets, after deduction of any liabilities, to then - current investors without further notice and will no longer be listed or traded.

After the conversion assets have been exhausted, the Roth earnings are distributed which may be fully taxable and may incur a 10 % IRS penalty.

In the event of the dissolution of the Club, other than for purpose of reorganization, whether voluntary or involuntary or by operation of law, none of the property of the Club nor any proceeds thereof, nor any assets of the Club shall be distributed to any members of the Club, but after payment of the debts of the Club, its property and assets shall be given to a charitable organization for the benefit of dogs, which organization shall be selected by the Board of Governors.

In the event of the dissolution of the Club, other than for purposes of reorganization, whether voluntary or involuntary or by operation of law, none of the property of the Club nor any proceeds thereof nor any assets of the Club shall be distributed to any members of the Club but after payment of debts of the Club, its property and assets shall be given to a charitable organization for the benefit of dogs selected by the Board of Directors.

In the event of the dissolution of the Club, voluntary or involuntary by operation of law, none of the property of the Club nor any proceeds thereof, nor any assets of the Club shall be distributed to any members of the Club; but after payment of the debts of the Club, except in the case of a dissolution for the purpose of all immediate reorganization of the Club, the Board of Directors shall give the property and assets of the Club to one or more charitable organizations within the United States for the benefit of dogs.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

In the event of the dissolution of the Society, other than for purposes of reorganization, whether voluntary or involuntary, or by operation of law, none of the property of the Society, nor any proceeds thereof, nor any assets of the Society shall be distributed to any members of the Society, but after payment of the debts of the Society, its property and assets shall be given to a charitable organization for the benefit of dogs, selected by the Board of Directors.

In the event of the dissolution of the Club, other than for purposes of reorganization, whether voluntary or involuntary or by operation of law, none of the property of the Club nor any proceeds thereof, nor any assets of the Club, shall be distributed to any members of the Club, but after payment of the debts of the Club, its property and assets shall be given to a charitable organization for the benefit of dogs selected by the Board.

In the event of dissolution, none of the property of the Club nor any proceeds thereof nor any assets of the Club shall be distributed to any members of the Club but after payment of the debts of the Club, its property and assets shall be given to the ABC or a charitable organization for the benefit of dogs.

You own property, including Digital Assets, (see below) that will need to be distributed after your death.

After the period of time allotted for creditors to make claims on the Estate has elapsed, you will distribute all of the Estate's remaining assets according to the Will and / or state law.

After awarding non-marital assets and liabilities, the court then decides how to distribute marital property accumulated during the marriage.

Through a will you can determine how your assets will be distributed after your death and who will be responsible for carrying out your wishes (the Executor or Executrix).

If it's a voluntary dissolution: the assets remaining after paying all the creditors are distributed among the owners according to their ownership percentages or by some other agreement.

With a will, after probate -LCB- The legal process of distributing assets from an estate after death -RCB- everything becomes public record.

It allows up to three years for the assets of the will to be distributed to the beneficiaries after the individual's death.

After this, the remaining assets are distributed.

The way bankruptcy law works is that if there are any assets remaining after the creditors have been paid in full, then those assets are distributed to shareholders as part of liquidation.

As part of questionnaires issued in late August, the FSA asked exchange applicants how their assets were distributed in the two types of accounts [cold and hot wallets]... After the company [Coincheck] filed for registration in September, the FSA highlighted the risk of unauthorized accesses taking place in its computer system and urged it to strengthen security.

If one spouse causes a loss of marital property during or after the breakdown of the marriage, called a dissipation of marital assets, the court may give the other spouse a larger portion of marital assets since there are fewer marital assets to distribute because of the loss.

Different jurisdictions have different rules pertaining to how assets and liabilities are distributed to the parties after a divorce.

Ellen received written reassurance that he'd write a will saying that, in the event of his death, after this initial amount of money was distributed to his kids, his remaining assets would be divided in half, with one portion to go to Ellen and the remaining portion to be divided among his children.

A trust is a legal mechanism that lets you put conditions on how your assets are distributed after you die, and it often lets you minimize gift and estate taxes.

This document will be your voice after your death, distributing your assets in accordance with your express wishes.

However, you can hold onto the property, lease it out to «arms - length» renters, build your retirement account with the rental payments, then take the real estate as a distributed IRA asset when you can take distributions penalty free (after age 59 and a half).