Question about exemptions

[anime-chicka]

I'm curious about something. Do you have to prove who owns what? Such as, would I have to prove that the refridgerator, washer and dryer were SOs? Or that the majority of the furniture we have is his?

I have proof of the items I own, most of it came from my divorce and I have the inventory list from the divorce decree.

Also, can they take items that were given to you, such as jewelery? I have a couple of items that SO gave me before we were married, including my engagement ring.

Thanks

[justbroke]

You just need to be honest. No one is coming to your home to inspect what you have and don't have. If you're truthful, you won't get caught in any lies when... well, more like if... the Trustee questions you about assets.

Wedding bands/rings usually have some exemption. In NY State, for example, Wedding rings/bands are fully exempt no matter what the value! Engagement rings may not be covered in your State. If it's modest, it could be covered by other exemptions... however, if it has significant value... it's value could become property of the Estate.

Also, they won't take children's clothing, toys, etc.

Generally, I haven't read that they've taken many things from folks. Most things don't have much value -- many things have only sentimental value. You'd be surprised at how much a 3-year old used washer and dryer are worth. Try selling them on Craigslist and see if you can get $100 for both of them!

[justbroke]

Yeah, Missouri, the exemption for Wedding Rings is only $1,500. All other jewelry is $500.

[anime-chicka]

Thanks for the input. I know the ring would fall below both exemptions, so I'm safe there.

I've taken some time to look for garage sales in the newspaper and just look at the prices that are being charged. I think I'm getting a good idea of what things are worth. I also visited a Salvation Army and a Goodwill store to get an even better idea. My mom used to call those places the garage sale stores where you could write a check

[heyu]

Just a quick note here, they do come out and do an inspection if they feel that you have not stated everything that you have in your house on your schedule, and sometimes you do forget things, Wednesday is the 19th and at 5pm the Trustee property Appraiser will be at my door, it will be a waste of her time but thats what they do.

[heyu]

Don't say that they do not come out and inspect your personal property fo the cash value because they do sometimes, Wednesday the 19th at 5pm the Trustee property Appraiser will be at my door to get the list of items in my house and to determine their value, I already know that it will be just a waste of time , but oh well!!!!!!!

[hopeforus]

You just need to be honest. No one is coming to your home to inspect what you have and don't have. If you're truthful, you won't get caught in any lies when... well, more like if... the Trustee questions you about assets.

Wedding bands/rings usually have some exemption. In NY State, for example, Wedding rings/bands are fully exempt no matter what the value! Engagement rings may not be covered in your State. If it's modest, it could be covered by other exemptions... however, if it has significant value... it's value could become property of the Estate.

Also, they won't take children's clothing, toys, etc.

Generally, I haven't read that they've taken many things from folks. Most things don't have much value -- many things have only sentimental value. You'd be surprised at how much a 3-year old used washer and dryer are worth. Try selling them on Craigslist and see if you can get $100 for both of them!

REALLY???? Oh if this is true I will be so happy!!!! My daughter has an American Girl doll and an iPod. Do these have to be covered in an exemption though or is it just because they are her toys they are ok? Ohio doesn't have much in the way of exemptions and her doll could be sold for what I paid for it.

[Tbornetun]

I don't think that even the most evil of trustees would take away a child's doll. I wouldn't worry about it.

[justbroke]

Don't say that they do not come out and inspect your personal property fo the cash value because they do sometimes, Wednesday the 19th at 5pm the Trustee property Appraiser will be at my door to get the list of items in my house and to determine their value, I already know that it will be just a waste of time , but oh well!!!!!!!

You may be among the less than 1% of filers that are automatically audited. They tend to not do this for Chapter 13 filers, but they do perform them on Chapter 13 as well.

The US Trustee Program is required by law (Congress) to audit some of the cases (1 out of 250). The US Trustee is also authorized to audit any filing which is out of the norm as well. Since the US Trustee hardly gets involved in Chapter 13 cases, I haven't found many audits... although I suppose there could be.

Odds of being audited by the IRS: 175 to 1 (Worse than being Audited by the U.S. Trustee!)

Of course, your mileage may vary. Rather than get people concerned that they are going to be audited... and, in shameless support of my theory that there are worse things to worry about... and to add some comic-relief to the non-seriousness of an honest person even caring that they are audited...

Odds of being killed sometime in the next year in any sort of transportation accident: 77 to 1

Odds of being killed in any sort of non-transportation accident: 69 to 1

Odds of getting away with murder: 2 to 1

Odds of being the victim of serious crime in your lifetime: 20 to 1

Odds that a first marriage will survive without separation or divorce for 15 years: 1.3 to 1

Odds that a celebrity marriage will last a lifetime: 3 to 1

Odds of getting hemorrhoids: 25 to 1

Odds of being born a twin in North America: 90 to 1

Odds of being on plane with a drunken pilot: 117 to 1

Odds of having your identity stolen: 200 to 1

Odds of dating a millionaire: 215 to 1

Odds of writing a New York Times best seller: 220 to 1

Odds of finding out your child is a genius: 250 to 1

Chance of having a stroke: 1 in 6

Chance of dying from heart disease: 1 in 3

Chance of getting arthritis: 1 in 7

Chance of suffering from asthma or allergy diseases: 1 in 6

Chance of getting the flu this year: 1 in 10

Chance of American man developing cancer in his lifetime: 1 in 2

Chance of an American woman developing cancer in her lifetime: 1 in 3

Chance of getting prostate cancer: 1 in 6

Chance of getting breast cancer: 1 in 9

Chance of getting colon / rectal cancer: 1 in 26

Chance of beating pancreatic or liver cancer: 1 in 9

(All in fun...)

[2muchinDebt]

They can take an engagement ring? What if mine is valued at $4000?

[2muchinDebt]

My engagement ring is valued at $4,000. Wedding ring only $500. Are they going to take my ring away? I would think I can claim it under some exemption.

[Tbornetun]

Go to the local pawn shop, ask them what they would give you for it. Use that value, NOT what it has been appraised at previously.