Small Mutual Fund Withdraw Question

[Beachlover2]

Hubby has small ($300) mutual fund and we are thinking about withdrawing the funds, he's had it like 25 years and has never put into it. We did not mention this to our atty, as we forgot about. Should we wait for date of discharge to withdraw or can we do it now? We could really use the money

[despritfreya]

The money does not belong to you. You need to tell your attorney so that Schedule B can be amended and, if there is an exemption you can claim, you also need to amend Schedule C. If there is no exemption the money belongs to the Trustee and you are better advised to turn it over, unless the Trustee tells you that you can keep it.

[Beachlover2]

Okay, just wondering since the amount is small.

[tcreegan]

Hi Beachlover2,

I would definitely tell your attorney, the question isn't how small it is, but is it large enough to get your case dismissed or attract the attention of the UST.....

Tom in Colo

[Beachlover2]

Thanks for the suggestions and advice.