What is a Trustee? What is Their Role in Bankruptcy? Seattle Bankruptcy Attorney Eric Engel Explains

What is a trustee and what is the trustee’s role in the bankruptcy process? Hi. I’m Eric Engel, bankruptcy attorney with the Engel Law Group in Seattle, Washington. Trustee is simply the referee in the bankruptcy process, the person that is essentially the gatekeeper and controls the process from the beginning to the end. It’s […]

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Should I Agree to Be Trustee of My Relatives’ Trust for Their Kids?

This is an area that I find many people stumble into without really understanding the consequences of their accepting this appointment from a relative. If you’re not familiar with the fiduciary duties, the obligations that are imposed upon you when you accept the responsibility of managing someone else’s wealth, we really need to have a […]

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Fort Worth Bankruptcy Lawyers | Can I Lose My Home in Bankruptcy | Texas Bankruptcy Law Firm

A debtor can lose their home most often by not making their mortgage payments timely or they can lose it to the IRS, if the IRS decides to levy and move in that direction. They can also lose their home if they fail to pay their property taxes depending on your jurisdiction and the laws […]

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How to Rebuild your Credit After a Consumer Proposal or Bankruptcy

How to Rebuild Your Credit… One of the biggest worries people have about declaring bankruptcy or making a Consumer Proposal is that your credit will be ruined forever – this is not true. You can rebuild your credit quickly by following a few simple steps, let’s call it “The SANDS Plan”. Step 1 – Set […]

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Is there a trustee appointed in every bankruptcy case?

Not every bankruptcy case has a trustee. In chapter 7 bankruptcy, a trustee is appointed to oversee the liquidation of the non-exempt assets, turning them into cash and paying on a pro-rated basis. In chapter 13 bankruptcy, there’s a trustee who collects monthly payments and pays your creditors on a monthly basis. In a chapter […]

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Removing a Trustee in California | Beneficiary Rights

In California, a trustee has a significant amount of control over the trust administration process. The trustee has the power to gather the assets of the trust, work with creditors, and distribute the trust assets to the beneficiaries. The trustee also owes the beneficiaries of the trust (and the trust itself) a fiduciary duty to […]

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