[Marshamoreno] Fwd: insolvency

Richard Robinson chigorin at gmail.com
Fri Jul 1 17:49:35 PDT 2011


I think the land is in our individual names as of now.

Richard



On Fri, Jul 1, 2011 at 11:37 AM, Susan Robinson <susanr at baymoon.com> wrote:

> **
> Very possibly!
>
>
>
> On 7/1/11 10:58 AM, Jason Mackay wrote:
>
> So the land on the hill basically screws us it sounds like.
>
> Sent from my Windows Phone
> ------------------------------
> From: Susan Robinson
> Sent: Friday, July 01, 2011 10:49 AM
> To: marshamoreno at armory.com
> Subject: [Marshamoreno] Fwd:  insolvency
>
>
>
> > 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> <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
> >
>
>
>
> --
>
> Susan Robinson, EA****
>
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