Legal Question in Bankruptcy in New York

Bankruptcy

I am considering bankruptcy and my Mother put all of her CD's etch in hers, mine and her own name. Can creditor�s attaches liens or get at this money even if it is in the 3 names?


Asked on 3/11/08, 12:57 pm

1 Answer from Attorneys

Nancy Delain Delain Law Office, PLLC

Re: Bankruptcy

Any assets that are in the debtor's name are subject to the Trustee's scrutiny and possible seizure. Transfer of assets between family members must be completed and a "lookback" period of time must pass before filing to ensure the Trustee has no claim on the asset.

Contact an attorney who is geographically close to you with whom you feel comfortable to discuss your situation. The state bar association or your county's bar association can be good sources of referrals if you need one.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

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Answered on 3/12/08, 11:56 pm


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