Spousal obligations in bankruptcy


B

biotechboy

Question: Is a spouse legally required to file bankruptcy with her
husband? IE, can a debtor who is about to file assign all of their
liquid assets to their spouse and avoid having those assets be listed
in the bankruptcy? Or will the bankruptcy court require that all
marital assets be listed and both file? Seems to me that if I am
bankrupt and I am married, then my wife is bankrupt too. Am I right? I
am trying to ascertain whether a debtor can hide assets within a
marriage prior to trial in a fraud case.
 
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B

Brett Weiss

There is no requirement that both spouses file. Transfers to a non-filing
spouse occurring within one year of the date of filing must be disclosed to
the Court.

--
Brett

*****************************************************************
* Personal Injury/Malpractice Bankruptcy *
* *
* BRETT WEISS, P.C. *
* Attorneys at Law *
* Maryland, D.C. and Federal Bars *
* (e-mail address removed) *
* http://www.erols.com/lawyer *
* *
* Small Business Estates & Estate Planning *
*****************************************************************

The Small Print: This response is for discussion purposes only. It isn't
meant to be legal advice and you shouldn't treat it as such. If you want
legal advice, speak with a local lawyer familiar with your state's laws who
can review *all* of the facts and the law applicable to your situation.
*****************************************************************
 

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