bankruptcy and spouses property

Posted on Friday, November 21, 2008

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I am most likely filing for bankruptcy, and was wondering if my wife`s assets are safe.

Filed under: Bankruptcy
 posted by Questions @ 8:29 am
1 Expert Comment:

 At December 2, 2008 | 7:18 am , Barton Goth, Trustee in Bankruptcy Said...

As long as the assets are owned by your wife, your wife paid for them, and you can trace those purchases back to her income then you will have no problem. However, if for example you bought a house together and put it in her name to protect it, this doesn’t actually mean it is entirely her asset, as the argument can be made that you were together at the time, both of your income’s/efforts contributed to the benefit of the house and therefore it is in actuality a joint asset.

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