Question about listing personal property

[MWallace]

Please forgive me if this has been answered someplace else in this forum, I've searched but can't find it.

To what extent to you have to list your personal property, specifically household items, books, clothing, etc.? Every website I find, every book I've consulted, and of course the Schedule B - Personal Property form, says to list *every* item. This seems over the top... I mean, do they really need to know every individual pair of socks I own?

What frustrates me is that I know beyond doubt that nothing I own has any significant value, and that everything would be worthless to the trustee, but do I still need to go through the hours upon hours it will take to list and then evaluate/appraise each individual item?

I'm really surprised I haven't been able to find a discussion about this... anywhere. I've been able to figure out every other form in my packet, but this one has caused endless stress for me and my wife. It seems like I will have to take a couple weeks of vacation time to go through my house and list every single little insignificant thing I own, and then try to figure out what the market value would be.

If there is an answer already out there in the forum, can someone please post the link to it? If not, can anyone provide an answer?

Thanks,
Martin

[jst4f]

We listed anything of significant value separately, cars, and bundled the rest into logical groups. Our attorney agreed. We did not list appliances by name just refrigerator, etc

[ValleYum]

We listed in logical (ok, what I deemed logical) groupings:

Hand tools
Small electrical tools
Yard tools and implements
Pots, pans & kitchen wares
Dishes, china, utensils & glassware
Living room suite
Master Bedroom suite
Guest room furnishings
Towels, linens and bedding

Like jst4f stated above, we singled out anything of value.

1912 pocket watch (gold-plated)
Wedding ring titanium
Wedding ring tri-gold (10 karat)
Assorted rings, necklaces and bracelets (10 karat and sterling)

I hope this helps you. It is a hard thing to list everything you own. I also snapped digital pics of my rooms, jewelry, etc - if the trustee had questioned anything I had listed on my inventory, I felt like I could answer it by showing them exactly what I was describing.

[AngelinaCat]

You can use categories of things such as 'Assorted Kitchen Utensils'; 'Bedroom furniture--three pieces', etc., as the other posters above suggested.

I was ready to list every single knife and fork right down to the paring knife with the broken tip--with which I was ready to do myself in, until our attorney stopped me and said, "NO! I mean categories of things!"

[LadyInTheRed]

Other than cash accounts, my IRA and my 401k, my Schedule B listed the following:

Household goods & furnishings $2,500.00
Books, pictures $200.00
clothing & personal effects $1,000.00
diamond ring $500.00
2010 Honda Fit Sport $16,500.00
1999 Toyota Tacoma $3,500.00

No questions were asked about my assets. If I listed every item I own, the list would be much longer. The list I gave my attorney was a little more detailed. Most trustees really don't want to bother with your dishes and clothing and every other item you own. One known exception is in the middle district of Florida. There could be others.

[AngelinaCat]

Most trustees really don't want to bother with your dishes and clothing and every other item you own. One known exception is in the middle district of Florida. There could be others.

'Hub and I are in the Middle District Florida. We are in the Jacksonville Court section. We did not have that problem.

It is possible that the Tampa Court section is that picky. I have read of trustees ordering property appraisals for Tampa and Sarasota.

[LadyInTheRed]

'Hub and I are in the Middle District Florida. We are in the Jacksonville Court section. We did not have that problem.

It is possible that the Tampa Court section is that picky. I have read of trustees ordering property appraisals for Tampa and Sarasota.

So it isn't the entire Middle District. Good to know the insanity is limited.

[MWallace]

These replies really ease my mind. Thanks so much. I also see now that I've posted, there are links to related threads which are also helpful. I didn't find these when I was searching last night.

[kawh]

I gave my atty detailed info on each item, like 'refrigerator, brand, model #' and the date acquired & its approximate value because his form asked for it. He said on the form to list every electronic gadget I owned, so I did. I get the schedules later and he told me something like "You've got a lot of stuff," and that's when I knew I had provided more details than most people would. Why do I know that? Because relative to most people, I know I have very little stuff or even furniture. So I know most people take his instructions with a grain of salt and get by just fine. Now every little pedestal plant stand I own is going to be in Pacer. I guess that's ok if it helps my petition appear more creditable (not that it would not be otherwise ;)

[Pjmax]

I stressed over listing my stuff, and I don't even have much. Everything I own is in my 8x10 room. (I live with a friend.) I didn't count every book, I estimated the number, and valued them at $1 each because that's what they'd sell for at a yard sale.
I did list brands, model nos., eBay value, for my 6-yr. old laptop, printer, TV, iPad, etc., so if anyone questioned this, although invaluable to me, not worth anyone's time to sell. My atty. looked at my list, wrote down a few numbers on his forms, and handed it back to me.
I'm glad I took the time to do this even though my atty. didn't need so much info. If anything is questioned at my 341, I can refer to my neatly typed list.

[tobee43]

in nj oh how true that is! one wouldn't know what to expect from the trustees as nj is such a creditor friendly state...that's why we came here, to florida to file (we did wait out our residency requirement to get the wildcard expemtion).

as ms. cat points out the middle district wasn't too bad, although we are from orlando to tampa, to jacksonville and then some...which is a HUGE area with many a trustee in between, it's kinda luck of the draw. i have heard, as well in the middle district, some nightmare stories as well, i guess we can say that for every single bk court or hearing room in the USA? whatever is said it was still better than nj for us anyway.

[Pjmax]

My atty. is a trustee (one of two in my district, I think), so I'm hoping he knows how to get it right. He did comment on how organized I was. All the pre-preparation should also make it easier to check the filing forms before I sign them. The only thing he questioned me on was how much did I spend at the hairdresser and manicurist. I said I do my own nails, and I had a haircut 6 mos. ago, $47 on my Mar. Bank statement. He had kind of a surprise look for a minute, said okay and moved on to the next question.
Honestly, my whole 'hand over the paperwork' meeting lasted 20 minutes.

[kawh]

My atty. is a trustee (one of two in my district, I think), so I'm hoping he knows how to get it right. He did comment on how organized I was. All the pre-preparation should also make it easier to check the filing forms before I sign them. The only thing he questioned me on was how much did I spend at the hairdresser and manicurist. I said I do my own nails, and I had a haircut 6 mos. ago, $47 on my Mar. Bank statement. He had kind of a surprise look for a minute, said okay and moved on to the next question.
Honestly, my whole 'hand over the paperwork' meeting lasted 20 minutes.

I find questions of that kind, that seem to crop up for women, with no counterpart type of question for male filers, to be sexist.

[Pjmax]

I find questions of that kind, that seem to crop up for women, with no counterpart type of question for male filers, to be sexist.

On one hand, I agree; I wonder how often he questions a man's laundry/dry cleaning expenses. On the other side, I had a rather small expense amount for personal care, maybe just checking to see if I forgot something. Then, maybe large hairdresser/manicure expenses are a big issue in this part of New Jersey, or maybe an issue with the 'other' C7 trustee. We'll see.

[kawh]

...Then, maybe large hairdresser/manicure expenses are a big issue in this part of New Jersey...

Yes, that could be a factor, I had not noticed you were in NJ, LOL. Seriously tho, if I have a trustee ask me how much I spend on haircuts, I may absolutely have to ask him something like , ''hair, where?" I dunno.