My 15 year old daughter is going on a trip with her AP science class. My ex paid the $2700 for her to go, and I was going to give her a few hundred dollars for food, etc while she's there. Is there any way I can still do this if I am planning on filing bankruptcy in the next month or two?
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Generally, transfers over $600 within a year period to an insider is preferential. But your daughter is part of your household and, I'm assuming, is included in your tax return and included in your means test calculation.
It's not clear how long of a trip this is -- but it seems justifiable to provide food for meals for a child that's on a school field trip, as long as the value of those meals isn't excessive (e.g. if it was $2,000 for meals for a 1 week trip, the trustee would probably raise an eyebrow). You have to provide meals one way or the other -- providing cash that can be spent on meals seems appropriate.
If this is questioned by the trustee, just tell the truth. -
I wouldn't worry about it at all. It's just another "normal" expense, and it's one-time and only a few hundred dollars. It has nothing at all to do with preferential transfers since you're not paying your daughter back for money you owe her.Originally posted by karibaa View PostComment
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