Hi there, You can technically file Chapter 7; eligibility is determined based on a means test (income), not equity, but $125,000 of home equity...

Hi there, The answer turns entirely on who the 2012 transferor was. - If mom deeded the house to the child for $1 while reserving a life...

Hi there, Setting up a cleaning business in California is straightforward, but there are some cost considerations to examine before deciding on...

Hi there, The good news is that your sister is incorrect. Under IRC §121, your mother could exclude up to $250,000 of capital gain on the...

Hi there, First, I am sorry for your loss. You don't need to do anything to convert the trust. When your mother passed, her revocable...

Hi there, Your liability to the lender is unaffected by the divorce or his Chapter 7 bankruptcy. As a co-signer, you can still be pursued for...

Hi there, The 8958 is generally required if you are married and filing separately and live in a community property state. The IRS requires...

Hi there, In California, your husband's ability to place assets into a trust without you depends on whether the assets are community property or...

Hi there, The real question is whether the assets are actually funded into the trust. A trust only controls assets titled to the trust, so...

Hi there, The short answer is that parts of this are likely legal, but the full picture is a bit more complicated and worth examining further....