What Trustee Said...

[AAAArt]

For those of you who have been following my case, you know that I am on medical disability, but that I also have a source of "outside" income which is similar to life ins. renewal commissions and therefore almost always seen as assets and taken by the Trustee. However, mine had a wrinkle in the contract and we were able to use that. The trustee submitted in writing to the court an agreement of compromise between he and I that my income for 2006, would be split 50/50 after taxes. 2006 and only 2006 is written in the "Petition to Compromise" and in the "Report of Possible Assets" that all property was inconsequential w/ the exception of the agreement which I had with thiss company.
Now here is my question? How many of you think that I just got really lucky?
I will receive a check from this company the last week of this year for 2005. At the 341, the Trustee told me not to cahs it, but to send it to him. When I asked if I could at least have enough to pay taxes with, he told me that if he took it, the taxes would be his responsibility.
Do you read this, like I do, that this last payment for 2005 has slipped between the cracks and that I might be able to keep it. Or do you fear, as I do, that the Trustee will take all of this payment and not give me my half after taxes? Opinions??? Art
Yes, I will be e-mailing my attyright away, but he's getting ready to go away overseas.

[newstart]

Art I am reading it the same way you are. I don't believe for a moment that he is responsible or will pay the taxes. I don't think he has any intentions on voluntarily giving you your part. Sounds like he got greedy in the mist of trying to do the right thing. Please keep me posted on what happens, dirty trustee.

[bkfiler]

the truth of who owes the taxes on what is simple. if he gets some money or property or anything from your estate then it is he who owes the taxes. thats a solid fact.

as to wether he still wants the check maybe he forgot about it. if you have to know and want to know and want to make him remeber it then go ahead and call him.

if you want to cash it and put it in a 3 month CD account to make money off it then do that instead. you can always put it back in again after 3 months. if you feel better having fast access with no penalty to it then try the money market account instead. if the trustee acatually wanted it then you can give it back to him.

[AAAArt]

I received an e-mail back from my atty. Stated that the Trustee thought that the next payment was in 2006, even though I clearly told him that it was normally received the last week of the year. My atty. feels that the agreement is for the next 4 payments, so I will just take the check in to their office after the first of the year, calculate the taxes and split the difference. Thus he will get his first payment for 2006 right at the beginning and at the end of 2006, I just won't cash the check until 2007. (Normally, they cut the check on the last week of the month to get it off of their books for this tax year and then put it in the mail.)
Anyway, sounds like we're going to prob. get off with 4 payts. rather than 5 if I just keep my big mouth shut and play it right. I can certainly go a day or two withoout checking my mail so that I don't receive it until 2007. Anyway the atty and the trustee are under the impression that he is receiving 4 payments, so I don't want to disappoint the poor trustee and make more work for him by him having to take 5, so I'm just going to not volunteer anything which is not asked. Art

[StaciMM]

Well, you've been upfront & honest w/ the trustee. I think the term 'you snooze, you lose' is very appropriate here.

[bkfiler]

great to hear art! whoo hoo! im glad you are getting half+ good news.

watch out for staci though. she has blackmailed me into submission on stuff like a whipped puppy so dont say too much

[StaciMM]

Art has common sense, and uses it. He doesn't pester me like you do!

great to hear art! whoo hoo! im glad you are getting half+ good news.

watch out for staci though. she has blackmailed me into submission on stuff like a whipped puppy so dont say too much

[bkfiler]

Art has common since, and uses it. He doesn't pester me like you do!

art is 'common since' what?

should we get you a speel cheker for chrimstas ?

[StaciMM]

I fixed it, was hoping you would not have seen that yet. (And spellcheck only helps when the incorrectly spelled word is not another correctly spelled word.)