Schedule B - Personal Property filling out.

[buzzstpoint]

I have a fill in form for Schedule B

We are filing Jointly.

In Schedule B, Type of property 2.

We each have checking accounts. Not joint, And my kids have savings.
How would I fill this area in.. There's only one spot to enter the H, W, J or C.

Do I add all in lump some and enter Community? Or add a different sheet and label Husband or Wife?

[LadyInTheRed]

Each account should be listed separately.

Read the instructions at the top of Schedule B which include the following:

If additional space is needed in any category, attach a separate sheet properly identified with the case name, case number, and the number of the category.

You should not identify an account as community property unless it is community property. "H" and "W" should be used to identify separate property. Whose name is on the account does not necessarily determine whether it is separate property or community property.

Unless your children's accounts are in your or your wife's name, I don't think you should list them. If one of your names is on their accounts, you should follow the following instruction at the top of Schedule B:

If the property is being held for the debtor by someone else, state that person’s name and address under “Description and Location of Property.”
If the property is being held for a minor child, simply state the child's initials and the name and address of the child's parent or guardian, such as
"A.B., a minor child, by John Doe, guardian." Do not disclose the child's name.

[buzzstpoint]

Perhaps a bit more info would help.

My wife has her own checking, she set up the children's savings, and I have my own checking. We are filing BK jointly.
But from what I have read,
I WI (A community state) I have put money in her account and she has done the same for me. If understand this right, this would be community property.

[justbroke]

If that is how you read the statute, then list it as either "H" or "W". The Trustee will decide if it is "joint" or "community property" based on the law. If the Trustee determines it's community property -- or otherwise joint property -- then you would need to defend a Trustee Objection to Claim of Exemption(s).

I too would not list the Children's account if they are "custodial" accounts. If they are nothing more than accounts you setup to hold savings for the children, yet the children are not the account holder (and/or the taxpayer ID associated as the owner of the account is not that of the child for whom you claim it belongs), then that's another issue and you will need to follow the instructions on Schedule B. The Trustee will usually ask, at the 341 Meeting, if you are holding property for someone else. Such would be the case if you are holding money in an account -- that is otherwise yours -- for your minor children.