Legal Question in Bankruptcy in California

Bankruptcy

All of my assets are sole and seperate and aquired before marriage. Still in my maiden name. My house is paid off and remains in my name maiden only. No joint charge cards or loans with exception of me being an authorized user on one Debit/Visa. Husband still has his own house owned before the marriage 4 years ago.

I don't work and have bank CD interest generated from my CD's as my income. Husband works, but is now unemployed and deep in debt on his own credit cards, house. and line of credit

The only thing we share is that we file a joint tax return in Ca. If he files a personal BK, can they come after any of my seperate assets ?


Asked on 3/08/08, 6:20 pm

1 Answer from Attorneys
Robert F. Cohen Law Office of Robert F. Cohen

Re: Bankruptcy

Property acquired during the marriage is community property. This includes not only real property, but furniture, TVs, computers, cars, etc. That said, most of that probably can be exempted by a skilled and knowledgeable attorney (or a smart debtor, for that matter). You didn't say where the $$ came from for the CDs. If acquired during the marriage with community funds, they could be problematic, especially since they seem to have substantial sums. It would be worth your while to have a lawyer review your finances before your husband takes the plunge.

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Answered on 3/08/08, 6:27 pm


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