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Trust 101: Spendthrift trusts

Posted by James Kridel | Feb 21, 2016 | 0 Comments

What is a trust? Very simply put, a trust is a device that allows your contemplated beneficiaries to skip the Court process of probate, as to the assets that you wish to have them receive directly. This saves time and money with respect to Court and attorney fees, and likely additional grief aft...

If my loved one passes without a Will, am I out of luck?

Posted by James Kridel | Feb 11, 2016 | 0 Comments

In New Jersey, if your loved one passes without a Will, there will be no legal remedy for which to honor his or her wishes regarding their estate. However, this does not necessarily mean you are out of luck. There is a certain procedure as to how a fiduciary appointed by the Court will distribute...

There may be relief for your tax debt

Posted by James Kridel | Feb 02, 2016 | 0 Comments

When filing for bankruptcy, one of the questions often asked is whether or not tax debt is dischargeable. The long and short of it is yes and no. Yes, some tax debt is dischargeable, as long as certain requirements are met. And no, most tax debt cannot be discharged. What type of tax debt is dis...

Money Laundering and the Bank Secrecy Act

Posted by James Kridel | Jan 26, 2016 | 0 Comments

The Bank Secrecy Act of 1970 (BSA) was enacted to prevent white collar crimes such as money laundering, tax evasion, or other financial crimes. The BSA requires financial institutions, such as banks, credit unions, and other depository institutions, to assist government agencies and report any su...

The Means test for Chapter 7 and Chapter 13 Matters

Posted by James Kridel | Jan 26, 2016 | 0 Comments

The most common bankruptcy filed is that of a Chapter 7, a liquidation for individuals or businesses which is designed to eliminate all debts. In exchange, your assets are liquidated, subject to certain exemptions, which allow you to retain certain assets. Secured debt is treated differently, as ...

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