Legal Question in Bankruptcy in California

Re: Are Bonds assests if you do not have access to them?

The answer depends on how the bonds are titled--are they in your name, or in joint tenancy, or are they in another person's/trust's name with you as a beneficiary?

If you're truly not able to access the money, then they'll probably be safe, but your bankruptcy lawyer needs to review the titling.

Re: Are Bonds assests if you do not have access to them?

Thank you for your inquiry. The legal answer to your question depends on exactly how the title to the bonds is held. If it is in a joint account, an account where you may be the beneficiary, or trust, such as a family trust, then you may have to list your interest, and make sure it is clear that it is a contingent interest. Many trustees also ask at the �341a meeting if you have an interest as a beneficiary to any property, such as bonds, via trust.

The safe thing to do is to list the property. If the trustee inquires, make sure they know that the bonds are not something you have custody, access, or control over, which is also an important legal issue.

Best of luck, and please email me directly if you have other questions.