Legal Question in Bankruptcy in Florida
Joint Liability in Bankruptcy
I am writing by request of my father who is 87. He has some investments combined in his name and my brother. He would like to know if my brother were to declare bankruptcy will he loose his investment also, since it is both of their names. It is set up as a retirement account. Please advise. Thanks...joan
Asked on 9/18/04, 10:26 pm
1 Answer from Attorneys
Alexander M. Rosenfeld
Rosenfeld & Stein, P.A.
Re: Joint Liability in Bankruptcy
Unless the nature and extent of your father's interest can be clearly established then his interest wil be at risk. It is important that his brother's petition be carefully prepared.
Answered on 9/20/04, 3:20 pm
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