Lynnmarie A. Johnson's Answers

We are getting up in age and have thought of selling our home to our children and we would take a life lease on it.

You can do even better. Do a "ladybird deed." That allows you to sell the house, mortgage it, do anything you want to it while you alive, but if you own when the last of the two of you pass away, then it automatically goes to your children. All they have to do is file a copy of your death certificates, and they automatically get the house. This protects you while you are living, if one of them gets sued or goes bankrupt you don't lose your home, also they can't sell it out from under you....

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Our landlord (commercial property) filed bankruptcy. Do we still pay rent to him?

You don't have enough information for me to feel free to make that assumption. If the property is being foreclosed on, then I would immediately start putting the money in an escrow account and send a certified letter to him telling him that. Or if he is surrendering the property to the trustee or the mortgage company. You certainly do not want to be making payments to him and then find out that you should have been makng the payments to the trustee or mortgage company. You need to find out...

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My Question is on Chapter 13 and when it is confirmed and what causes it to go longer than supposed to.

If you read your paperwork, it is generally 36 months from the date of confirmation, not from the date of filing. So going From march to October before getting confirmed stretches the plan 5 months there alone. Then assuming that your plan says you are supposed to pay certain percentage to your creditors, some creditors may have come back at more than you had scheduled, or perhaps that is what the "disputes" were about. If the dollar amount you have to pay into the plan increases andyour...

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How do we make an executor of an estate do his job?

Petition the court to have someone else appointed personal representative based on the fact that he is learly not doin his job. Has he been filing the yearly accountings? I would be concerned about whether an estate was ever really opened and if it was, has it been administratively closed due to his apparent non-compliance. I would also be concerned with the statement that the money from the sale went into probate court, prpbate court, at least in my area, does not have the capability to "...

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I applied for a Chapter 13 Voluntary Dismissal in the beginning of January, the judge has yet to sign it, why?

Call and ask the judge's attorney if there is anything holding it up. If the attorney refuses to talk to you, because you are represented by your attorney, call you attorney and ask for a copy of the paperwork he filed. Perhaps it didn't get filed as soon as your lawyer said or perhaps your judge doesn't want to give an okay to the short sale without you amendibg the plan to reject the house while you stay in the bankruptcy. Different judges do put different priorities on what they sign,but...

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Can life go on? Discharge without Closed?

In the Eastern District of Michigan, which is where you are, there is case law that says your tax refund must be pro-rated and the portion earned before you file, must be exempted in your bankruptcy schedules, so look at your schedules and see if it shows something along the lines of 2011 tax refund, pro rata, as being exempt, then you can file and not worry about it! But I agree with the abive, talk to your attorney, they should be able to answer all the questions for you and they know the...

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Will my business be affected by me filing a personal chapter 7?

Even if you have no physical assets, whihch I find highly doubtful, you probably have desk, phone systems, computers, etc, if you have equity in the business, you would have to account for that in your assets. If it is over the allowed exemption amount, you would either have to make some kid of arragement with the trustee to pay your creditors that much, or he could sell your business, give you the exempt amount, and take the rest to pay his fee and your creditors. I have had one stubborn...

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I am in a Chapter 13 by myself, my ex filed a 7, we just got divorced..

While I agree that the $500, if it is for support, is an expense that should lower you Ch 13 payment, I also have to reinforce the idea that you should sign nothing without having an experienced bankrupcty attorney involved. I would be highly suspect of anything the divorce attorney told you if you have already found out that they had not spoken to the bankruptcy trustee when they said they had. Also why you HAVE to sign the agreement. Also if your wife got a marital settlement from you,...

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Filed chapter 7 bankruptcy 10 years ago so why is the lender still reporting my payments to the CRA?

You can go to the bankptcy court and ask them to look on Pacer and see if reaffirmation ageement was signed and filed, assuming that your attrney's office doesn't want to cooprate wth you, The court wil charge a dollar or so a page, but then at least you would know...... As long you are paying it and they are reporting as good credit, why complain If you later want to walk away from them, then contact them and show it was discharged, I meantime, just appreciate that it is being recorded...

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CERTIFICATE OF TRUST

Both oth attorneys are correct. By far though the easiest way to get the exact name of the trust is from the original trust document. The Certificate of Trust is a summary of the trustte serving to tell the world that the trust exists, who the trusttes are and what powers they have. The reason you have one is so that you can give it to someone, say a bank or the IRS, to show that the trust exists and the trustee informatio, without givingthrm the entire trust, which may contain information...

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