Legal Question in Bankruptcy in California

Bankruptcy and Owning Property

Most of my husband and my debt is on credit cards that are in my name only. I am thinking about filing for bankruptcy but was told I couldnt because my husband inherited a trust which includes some property that he shares with his two sisters and another family. He does get income from this property because there is a resturant on the property. But it isnt much. Can I file for bankruptcy separtely? Or at all since he does have the trust?


Asked on 12/03/08, 10:02 pm

2 Answers from Attorneys
Brian Whitaker Lifeline Legal, LLP

Re: Bankruptcy and Owning Property

You can, of course, file bankruptcy by yourself; but you will be discharging only your responsibility to pay the debts ... your husband will still be liable for any debts for which creditors consider him liable. If his interest in the trust was inherited, it is not community property and would not be an issue in your bankruptcy. You should know, however, that his income will be included in any analyses of your qualifications to file Chapter 7, etc. If, as you say, it isn't much - then you should be OK.

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Answered on 12/04/08, 2:49 am
Phillip Lemmons, Esq. Phillip Lemmons APC, Attorneys at Law

Re: Bankruptcy and Owning Property

Your husband's inheritance is his separate property and shouldn't effect your ability to qualify for bankruptcy.

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Answered on 12/06/08, 2:32 pm


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