Somebody tell me where my thinking is wrong

[Granny]

Who said attorneys are accountants??? Under the new BK code they need to be.
Do you own any of the stock in the corportation as that is an asset that you may have to turn over to the trustee.
emoney

They should have hired accountants under the old law too, from what I have seen.

Technically, yes I do own stock because Texas is a community property state and the corp was started after we married. But is the stock in my name, no, it is in hubby's name, I am just an officer of the corp.

Since the BK estate now includes the truck, the trustee techinically has control of all the corp assets, as that is the only asset.

The stock has no value, from an accounting standpoint. The corp has suffered a loss every year (on paper) and with the total depreciation of the only asset, there is no value to the stock. According to the BK paperwork, now the liability against the truck exceeds the value...stock and corp is worthless.

Except to this poor 'lil truckers wife, right now, it is worth all the gold in the world.