[Marshamoreno] Fwd: insolvency

[Susan Robinson]

Basically, you just total up all of her assets (current fair market 
value ) including home, cars, 401k, IRAs, land, etc then subtract the 
amount she is in debt (including mortages, credit cards, etc) at the 
time the debt is forgiven (so before it was settled). If the amount of 
debt is larger than the amount of assets, then she is insovent.

Make sense?
Susan

-------- Original Message --------
Subject: 	[Marshamoreno] insolvency
Date: 	Fri, 1 Jul 2011 10:40:44 -0700
From: 	Richard Robinson <chigorin at gmail.com>
To: 	marshamoreno at armory.com



hi --

Jason wants to know what it takes to establish insolvency.  Do you have 
the official requirements/process/definition for that?  Or pointers to it?

Jason just dissolved $20k of Marsha's debt.  There is more to Marsha's debt.

Richard

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