Legal Question in Bankruptcy in California

Cash asset and bankruptcy

I am thinking about filing Ch. 7. I am not working and relying on significant other's income. I pulled out my 457 from previous employer and have been paying my bills from that. I have $12K still in the bank but I need to file now. Will they take all that money? Also, I have to file probate for my father's estate. Should I file BK before I file probate. Thanks


Asked on 5/30/07, 9:22 pm

2 Answers from Attorneys
OCEAN BEACH ASSOCIATES OCEAN BEACH ASSOCIATES

Re: Cash asset and bankruptcy

This needs to be answered on a case by case basis anylizing debts, etc. For assistance contact me directly.

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Answered on 5/31/07, 5:23 pm
Mark Markus Law Office of Mark J. Markus

Re: Cash asset and bankruptcy

There's no way to answer your questions without a comprehensive consultation. The cash is probably exemptable, but it depends on what other assets you have, which includes whatever you stand to receive from the probate. When you file for probate is immaterial.

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Answered on 5/30/07, 9:34 pm


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