my husband and I are seperated and filed a joint chapter 7 bk in 11/04. We live in New york. During several meetings with the lawyer, he advised us not to cash any income tax refund checks, that we may have to surrender to the Trustee. I think he said it was because of the house, I am keeping that. During our creditors meeting, there was no mention of the uncoming refunds. We rec'd our discharge notice 1/17/05. Still no letter stating that we would have to surrender the refund. I called my lawyer and he said that when I receive my refunds, (federal & state) to send him copies and he would forward on the Trustee and see what he wanted done with the refund. My husband said that I shouldn't have called him, why wave money in front of the Trustees face. My husb said that he's spending every dime of his (we filed seperately) I want to do the right thing, but I was really counting on my refund to pay my last years and this years property taxes. Do I have to surrender my refund? What about my husb? Do I have to notify my lawyer of my refund? Thanks
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Typically how they calculate how much refund is turned over is this.
They divide the day of of the year you filed BK by the total number of days in the year. For the sake of example, lets assum you filed on December 15, 2004. That is the 350th day of the year.
350/366 (2004 was a leap year) = 0.9562 * 100 = 95.6%
Thus, our example debtor would have to surrender 95.6% of their 2004 tax refund. -
what happens if I surrender mine refund but husband keeps and spends his?Comment
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