Hi all -
Question... I'm filing chapter 7 this week and while doing the paperwork I realized I had set up an E-Trade account for my girlfriend's minor son several years ago. I'd forgotten about it until now. It's in his mom's and my name. Anyway, is this something I "could" now remove my name from? Or is it too late in the game and would be considered "questionable", if I did so? I honestly just set it up for him - she funded it, and I've had nothing to do with it except setting it up for them, because she didn't know how.
I'm guessing I'm supposed to list this as an asset, regardless, because my name is on it? I'm probably ok in any event, as there is only a few thousand dollars in it and in my state (CA) I will still be covered by the exemptions, and considered a no-asset case. Because my name is on the account, would the entire balance be considered mine? Or only half?
Out of curiosity... if it was not listed under my assets, is this something that would be "discovered" during the bk?
Thoughts? Thanks!!!
- JC
Question... I'm filing chapter 7 this week and while doing the paperwork I realized I had set up an E-Trade account for my girlfriend's minor son several years ago. I'd forgotten about it until now. It's in his mom's and my name. Anyway, is this something I "could" now remove my name from? Or is it too late in the game and would be considered "questionable", if I did so? I honestly just set it up for him - she funded it, and I've had nothing to do with it except setting it up for them, because she didn't know how.
I'm guessing I'm supposed to list this as an asset, regardless, because my name is on it? I'm probably ok in any event, as there is only a few thousand dollars in it and in my state (CA) I will still be covered by the exemptions, and considered a no-asset case. Because my name is on the account, would the entire balance be considered mine? Or only half?
Out of curiosity... if it was not listed under my assets, is this something that would be "discovered" during the bk?
Thoughts? Thanks!!!
- JC
Comment