Chapter 7 bankruptcy could also be known as liquidation, or straight bankruptcy. It requires the court to appoint a trustee. Who then takes your assets, sells them, and distributes the money to creditors who have filed the proper claims. They cannot receive payment without correct claims filed. Being the most common type of bankruptcy filed in the U.S., chapter 7 is still complex.
An asset is anything already of value, or a resource of value that can be turned into cash at any time. Assets may be owned by individuals, companies, or the government. It may contain economic value, or future benefit. Future cash benefit assets may be something such as a company, or a patent. So how do you determine the different categories of assets?
The adoption process in any state is overwhelming.
Anyone who’s gone through it will attest. But if you educate yourself as much as possible beforehand – and during – the process, you’ll be in much better shape. With the help of an adoption attorney St George Utah, you’ll navigate your adoption journey with greater ease.
