Legal Question in Bankruptcy in New York

forget to put something on my petition

i filed recently and said i had no bank accounts which is true. bur i also just realized because my father was having surgery last year ,he put me and my bro on one of his accounts in case he needed us to do his banking for him before he got out of the hospital,and i know we had to give our ss#'s will that be a problem when i jhave the meet with the trustee , would they have been able to tell from my ss#


Asked on 12/17/04, 1:51 pm

1 Answer from Attorneys
Andrew Nitzberg Andrew Nitzberg & Associates

Re: forget to put something on my petition

If addressed properly, this will not be a problem.

The trustee has the power to make a computerized 'search' of your accounts with the click of a mouse. The account may show up.

The situation, as described to me, is more of a 'trust' established by your father for his benefit (easy access to funds to be applied to his benefit). However, there is no written constraint against your applying the assets to other purposes. The property is, at this time, your own (yours, your brother's and your father's) to distribute as you please.

There is a name for this arrangement in estate law. It is called a 'Tottentrust'. You must list the asset and explain it is property held in trust for another person.

You are welcome to a consultation for no fee.

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Answered on 12/17/04, 4:33 pm


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