Legal Question in Bankruptcy in Michigan
during bankruptcy
u come into a life policy that has cash value. if you cash it out. do you have to tell the trustee or will they find out some how
Asked on 2/03/08, 2:47 pm
1 Answer from Attorneys
Peter Torrice
Canu, Torrice & Zalewski, PLLC
Re: during bankruptcy
When you file bankruptcy you must disclose all of your assets. Lying on the petition is a crime and may result in a denial of the discharge. However, if you did disclose it and exempted it out correctly it should not matter what you do with it as long as you are entitled to keep it. Call me for help 5862851700
Answered on 2/04/08, 12:04 pm
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