Stock Account

[mmenz22779]

I have a small stock account that is sometimes active. I will include it with my exemptions.

Is this going to be ok,

a very small trading account that is exempt.

is a stock account safe if it is in my exemptions.

[HHM]

What exemption would cover it exactly (I would guess some wild card or cash exemption).

But yes, if you can exempt it, its exempt.

[BKParalegal]

If there are stocks in the trade account, then you need to put a semi-accurate value on them prior to filing.

Good Luck

[mmenz22779]

Sorry HHM, I live in california and it would be with my wild card exemption. I will be using meathod 2 since my home has no equity in it. I really have nothing to my name exept a house, 3 cars and my stock account. I have 21000 total in exemptions, with 21000 as wild card if nessessary.

I am just scared that the trustee will see 5000 in my stock account and try and take it eventhough it is exempt. I use this accout as my savings account.

Below is all my assests
, no insurance, no Alimony or child support, no pensions, some personal property (see below)


Personal Property
'Animals, crops, appliances,
furnishings, household goods, books, musical
instruments and clothing to $525 per item (all are under the value)

Jewelry $400.00
1997 ford ranger = $1000
2003 honda accord $1,700.00
2005 Acura MDX=no equity $0.00


Wild Card

TimeShare $7,500.00
Stock Options $3,200.00
checking account $1,000.00
ameritrade/other $5000

My total is $20800

you think this is ok?

[mmenz22779]

Bk there is also currency in that account along with paper gold.

[mmenz22779]

Also if there is active trading going on in the account and they ask for bank statements that show that will that be a problem?

[mmenz22779]

the account has a debit card with it, if my account gets to high then I was going to use the extra money for living expenses, such as food, bills ect..

Very easy to do that.