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Family winfall...

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    Family winfall...

    My mother-in-law is about the receive a VERY sizable settlement in a workmans-comp lawsuit. She is planning on using the money to purchase a house and save the rest away in a savings account. Because of a lack-of-trust with her husband (convicted murdered) my mother-in-law wants to put the house in her name and my wife's name, leaving her husband off. She also wants to put my wife on the bank account, again leaving her husband off. Her thought is by doing this, it makes the money/house that much harder for her husband to get in the event of a divorce or something else.

    The settlement is expected early next year.

    We filed Ch 7 jointly on Nov 14th with 341 meeting on Dec 18.

    Beyond the trust issues / marriage legalities, how far out of BK do we need to wait before my wife's name could be added? Will adding her name on the house deed affect our bk case?

    I'm basically looking for any timeline / bk sensitive issues you folks can think of to make sure our case isn't effected by these actions. Thanks!
    (X) - Filed Chap 7 - 11.14.2007
    (X) - Free and Clear - 2.22.2008
    PreBK Scores - 467/428/434 (11/22/2007)
    PostBK Scores - 571/604/583 (3/15/2008) - Rebuilding Begins!

    #2
    I'd wait until the bk is discharged and closed. In fact, I'd wait until at least 180+ days from the filing date.
    Your wife should not mention this potential arrangement at the 341 meeting.

    Comment


      #3
      She might want to spend the money to consult with a real estate attorney - there are other ways to protect her assets fro mteh husband than putting the daughters name on them.

      Comment

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