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What else can I help you with?
What is the current assets?
Current assets are assets that are likely to be converted into cash within the operating period. Another way to put it is current assets are the most liquid assets of a company. These mainly consist of the following:Cash and Marketable SecuritiesAccounts ReceivableInventoriesOther Current Assets
If the liabilities owed by a by a business total 500000 then the assets also total 500000 T or F?
Yes it is true that assets side total must be equal to liabilities side and in this way above statement is correct.
Which asset does not depreciate?
Assets that do not depreciate typically include land and certain types of investments, such as stocks or bonds. Unlike physical assets like machinery or vehicles, which lose value over time due to wear and tear, land generally maintains or increases its value. Additionally, intangible assets like trademarks and patents may not depreciate in the same way as physical assets.
How can you avoid leaving a paper trail when you are in an audit?
One way to avoid leaving a paper trail for when you are in an audit is to transfer your assets offshore. Although be careful and make sure that your assets aren't sent by a bank that is located directly in your country.
Sample problem about cash and cash equivalents?
This is a great way to figure out how to keep track of your assets. You can find sample problems of this online.
How can I protect my property from creditors?
One way to protect your property from creditors is to establish a trust or create a limited liability company (LLC) to hold your assets. This can help shield your property from being seized in the event of a lawsuit or debt collection. Additionally, consider purchasing adequate insurance coverage to protect your assets in case of unforeseen circumstances. Consulting with a legal or financial advisor can also provide guidance on specific strategies to safeguard your property from creditors.
Can a c corporation file for bankruptcy and the owners protect their personal assets even if they signed personal guarantees with some banks?
No, the owners assets WOULD still be subject to seizure from creditors for all debts that were PERSONALLY guaranteed. The only way to protect personal assets would be for the owners themselves to file personal BK.
If a husband is sued how can the wife protect the family assets?
One way the wife can protect family assets is by ensuring that assets are held in her name only or in a trust that she controls. It may also be advisable for the husband to transfer assets to the wife before any legal action is taken, while keeping in mind the legality and implications of such transfers. Seeking legal advice is crucial to determine the best course of action based on the specific circumstances of the lawsuit.
What is administrative management?
it is to administer the assets in the best way of the organization.
How can I protect my assets in a marriage?
One way to protect your assets in a marriage is to consider a prenuptial agreement. This legal document outlines how assets will be divided in the event of a divorce. It is important to consult with a lawyer to ensure the agreement is legally binding and fair to both parties. Additionally, keeping separate bank accounts and assets can also help protect your individual assets in a marriage. Communication with your partner about financial matters is key to maintaining transparency and trust in the relationship.
A way to protect the personal assets of an investor against losing everything if a business fails?
LIMITED LIABILITY
What is the importance of estate planning?
The main benefit of estate planning is the protection of your assets. It's very important to make sure that your assets are protected against creditors. Also the biggest benefit of estate planning is that you can leave a lasting legacy for your loved ones. A key component of estate planning is the protection of your assets. In case you pass away, a will is a good way to protect your assets. It also appoints a caretaker for your children if you become incapacitated. This is particularly important if you own expensive possessions. Without a will, your loved ones will be left to decide how to raise your children.
If you inherit money can the executor pay it as an annuity?
It may be worked out that way in the will. Or if a trust were set up that way, it is often done to protect assets.
How can you protect financial assets from attachment by nursing homes?
One way to protect financial assets from attachment by nursing homes is by creating a trust fund and transferring assets into it. This can help shield the assets from being considered for payment towards nursing home expenses. Consulting with a financial planner or an attorney who specializes in elder law can provide more personalized advice on how to protect assets.
In a non revocable trust can your spouse be the trustee without negating the protection of assets?
You should direct all trust questions to an attorney who specializes in trust law in your state. Any trust must be drafted by an expert. The only foolproof way to protect assets from taxes and creditors is an irrevocable trust. An irrevocable trust only works if it is drafted properly. You should shop around for an expert is estate planning with a good reputation.
What is the easiest way to settle a parent's estate in Illinois if they had more debts than assets?
Probate is the easiest way and the legal way it should go when a Will is left. Probate makes sure that all creditors (banks, charge cards, loans, property taxes and personal taxes, etc.) are paid in full. Whatever is left after the creditors is paid goes to the Heirs in the Will. If there is no money left and debt still owing then the creditors are out of luck and the Heirs are not liable for any monies owing. Marcy
What is the best way to protect against data loss?
The best way to protect against accidental data loss is to back-up your data frequently.
