Legal Question in Bankruptcy in West Virginia

Child's Money
My family is considering filing for bankruptcy due to approximately $25,000 of debt on my step-father's credit cards and $6,000 of missed payments on our house. I live with my step-father and biological mother and have had a mutual fund wherein we (my mother and I) deposited child-support from my biological father. The amount stood at approximately $8,000 when we removed it. I am 18 now, but the mutual fund was under my mother's name. Does this money have to be listed as an asset even though it is my personal money and my step-father is not my legal guardian? Thank you.

Asked on 3/23/02, 3:28 pm

Rodney Berry Berry, Kessler, Crutchfield and Taylor

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Re: Child's Money

The funds need to be explained in the petition. It is my opinion that they would not be considered an asset.

Answered on 3/24/02, 8:46 am

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