When listing your assests do you have to include items that your children have boughten with their own money or earned from jobs? My daughter does chores for a local farmer and he repays her with registered baby goats, and according to our lawyer our livestock has to be listed. This is fine, but she technically owns over half of them, even tho' we pay for the feed.
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Date filed: 06/24/2009
341 Meeting: 07/27/2009
Plan confirmed: 10/14/2009
$340.00 per month @ 60 months
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Your assets include things that your dependents own. I had to include my kids clothes, toys, electronics, etc. It was no big deal because it was all exempt. -
So as not to start a new thread I'll tag on to this one.
Both of my daughters have bank accounts set up for them and my dad is the trustee. The girls are not allowed to touch the money until they are 18. Do I have to list these because they are my dependents?Comment
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Actually, in your case "bridie43" since this is a trust account, even though your children are minors, Your Dad is the "Owner" as he is a Trustee of an account that cannot be touched by anyone. They will be adults legally at age 18. It is a unique question and I am not a lawyer, but someone will chime in and correct me if I'm wrong.
As to the OP, all the goats have to be counted not half. What a minor owns, the parents are the real owners until age of majority. (except what was mentioned). 'HubIf I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010.Comment
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PHEW!!!!! teenagers are hard to deal with even in pristine conditions I can't even imagine telling them the money will no longer be there for them!
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