Liquidating Trust of the agreed-upon ,000,000, an Order of Dismissal was signed by the Circuit Court for the County of Fairfax, Virginia, dismissing the Complaint filed by John De Groote Services, LLC against F. This supplemental distribution will be made immediately and results from the Trust’s lawsuit against former Directors and the former Chief Executive Officer of Bearing Point, Inc., which was settled for million with no admission of liability.
Most people have little experience dealing with what happens after their loved one dies and they have been named as the successor Trustee who will be in charge of settling their loved one's Revocable Living Trust.
The purpose of this guide is to provide a general overview of the six steps required to settle and then terminate a Revocable Living Trust after the Trustmaker dies.
The first step in settling a Revocable Living Trust is to locate all of the decedent's original estate planning documents and other important papers.
In a Winstar-related case, judgment by the court of federal claims holding that the government's enactment of the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) breached the government's contractual promise to allow favorable accounting treatment of supervisory goodwill is reversed and remanded as the government lacked the requisite intent to enter into a contract with plaintiff regarding treatment of goodwill to be generated by plaintiff's conversion, no contract was formed, and thus, there was no breach.
Refer to What Documents Are Needed After Someone Dies?
for a detailed list of the specific documents that will need to be located.
All original documents should be stored in a safe place until they can be given to the trust attorney.
The decedent's other important papers will include information about the decedent's assets, including bank and brokerage statements, stock and bond certificates, life insurance policies, corporate records, car and boat titles, and deeds for real estate; and information about the decedent's debts, including utility bills, credit card bills, mortgages, personal loans, medical bills and the funeral bill.