Non-Profit Organizations

[tightgrip]

I have a quick question. My husband is on a bank account of a Youth Association with a Treasuer and a Vice President and a President. We are going in on Monday for our first consultation and will ask this question then but I think we shouldn't have a problem with that since it is not our money? Correct? This forum has answered allot of questions for us and has helped this process be a little less stressful knowing there are MANY people out there stuck in our situation!

[lrprn]

I have a quick question. My husband is on a bank account of a Youth Association with a Treasuer and a Vice President and a President.

Since your husband's name is on the account, then he needs to be able to prove that none of the money in it is his. Can he do that? Even then, he may be forced to list it as a part of the bankruptcy filing with an explanation in case your trustee unearths it as a part of the usual financial "deep dive" that trustee staffs do between filing and your 341 meeting.

Ask about this during your upcoming consultation and 2-3 others with experienced bk attorneys in your area to see how this situation is typically handled in your local court.

Also don't stop with one consultation. Interviewing more than one attorney gives you a good idea of where the possible issues (if any) are in your case, and also gives you a feel for which lawyer is going to represent your interests best. Good luck!

[Flamingo]

Your husband needs to check with the non-profit's officers in case the company's by-laws contain a clause or verbiage that if someone in office or having access to the company's funds needs to disclose if they file bankruptcy. Make sure you discuss his access to that account thoroughly during your consultation with the Bk attorney.