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Liabilites
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∙ 12y ago
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Describe the stockholders liability to creditors of a corporation?
A corporation's creditors usually do not be past the assets of the corporation to satisfy their claims. The most a stockholder can lose financially is the amount he or she invested.
What is creditors for good assets or liability?
Liability
What are the components of current assets?
The components of current assets are creditors, cash, debtors and stock.
What is the best way to protect assets from creditors?
Move to Texas and put your money into exempt assets; e.g., a homestead, retirement assets, life insurance, annuities . . . .
Who are pre-preferential creditors?
This is achieved by amending the status of some creditors' claims - making them effectively pre-preferential. For example, under Spanish law, claims of an administrative and labour-related nature are not automatically suspended on the date of the declaration of the bankruptcy. Under Polish law, secured creditors with rights in rem may enforce their claims against encumbered assets in an arrangement bankruptcy (the claims are not covered by the arrangement proceedings to the extent they are covered by security) and initiate enforcement proceedings. In some EU Member States, the court has the power to lift the stay. Under Swedish law, upon the issuing of a bankruptcy order, a landlord is entitled to terminate the debtor's lease. If commercial premises are involved and the bankruptcy administrator fails to assume liability for the tenant's obligations during the term of the relevant lease within one month from demand, the landlord may repossess the premises. Under German law, the security interest and ownership interest of creditors with rights to preferential treatment may only be realized after the Creditors' Report Meeting has been held. If after the Creditors' Report Meeting, the insolvency administrator decides to use the property for the insolvency estate, he must pay a rent/interest to those creditors with a security interest in the insolvency estate. In the UK, amounts becoming due under a lease during the period that an administrator is in beneficial occupation are expenses of the estate.
Can the deceased be billed?
The decedent's estate must be probated if they owned any property. Creditors can make claims against the estate. The creditors must be paid before any of the assets can be distributed.
Can stockholders' equity be described as claims of creditors on total assets?
yes
What happens to the administrator of an estate with creditors?
The Administrator must file the proper notices that the estate has been filed to give the creditors the opportunity to file claims against the estate. The estate is responsible for the debts of the deceased. Claims by creditors must be paid before any assets can be distributed to the heirs-at-law. There is a statutory schedule by which creditors must be paid. If there are not enough assets to pay the creditors the estate is declared insolvent. The adminstration of an estate is a legal process that must be done according to the law. If the appointed Administrator doesn't know how to carry out their duties according to the law they should hire an attorney to supervise the probate process. Distribution of assets before creditors are paid can leave the Administrator exposed to personal liability.
Describe the stockholders liability to creditors of a corporation?
A corporation's creditors usually do not be past the assets of the corporation to satisfy their claims. The most a stockholder can lose financially is the amount he or she invested.
What assets are protected against a judgment in a wrongful death civil suit?
Each state has different laws on what assets can be protected from judgment creditors.
What happens if you have judgments against you after you die?
Your creditors can make claims against your estate if you own any property at the time of your death.
Can debt collectors make a beneficiary pay the decedents debts?
The creditors can file a claim against the estate and the debts of the decedent must be paid by the estate before any assets can be paid over to the beneficiaries of the estate. If there are no assets in the estate the creditors are out of luck. You should consult with an attorney or other advocate before you pay any debts of the decedent.The creditors can file a claim against the estate and the debts of the decedent must be paid by the estate before any assets can be paid over to the beneficiaries of the estate. If there are no assets in the estate the creditors are out of luck. You should consult with an attorney or other advocate before you pay any debts of the decedent.The creditors can file a claim against the estate and the debts of the decedent must be paid by the estate before any assets can be paid over to the beneficiaries of the estate. If there are no assets in the estate the creditors are out of luck. You should consult with an attorney or other advocate before you pay any debts of the decedent.The creditors can file a claim against the estate and the debts of the decedent must be paid by the estate before any assets can be paid over to the beneficiaries of the estate. If there are no assets in the estate the creditors are out of luck. You should consult with an attorney or other advocate before you pay any debts of the decedent.
Who is liable for your mothers hospital bills if there is no will?
Your mother's estate is responsible for her debts. If she owned any assets then her estate must be probated to give her creditors the opportunity to make claims. If she had no assets then you should notify her creditors of her death by sending a copy of the death certificate with the bill to the billing office.
Can liens be placed against a life estate to collect medical bills?
There is a statutory period during which creditors can file claims against an estate that has been admitted to probate. Any entity that provided medical treatment, supplies or services for the decedent may file a claim. Claims that have been properly filed must be paid before any assets can be distributed to the heirs.
Can a revocable trust be sued by credit card companies after the person is deceased?
That all depends on the trust and whether it was set up properly to protect the assets of the decedent. In order to transfer title to property out of an individual to protect that property from probate and creditors EFFECTIVELY, the trust must be drafted by a professional. If the truster maintained any control over the trust the trust property may be vulnerable to claims against the decedent's estate. The creditors can make claims against the estate and a judge will decide.
What is chapter 7?
Chapter 7 bankruptcy protects you from creditors and sells your non secured assets to pay the creditors that you owe. If you do not own an assets, you will not have to pay the creditors and the debt will be forgiven.
Who's responsible for claims made against the estate?
The executor or administrator, but only to the extent of assets in the estate.
