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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I live in Maryland and am filing for bankruptcy, I am married

Customer Question

I live in Maryland and am filing for bankruptcy, I am married but I am the only one filing, my spouse will not be filing. My question is, if married filing alone, how does tenancy by entirety affect the filing? I am wondering if I need to include items in the bankruptcy estate that belong to both of us or if these items are automatically exempt because they are owned in tenancy by entirety? Such items include, furniture, our children's belongings, our computer, our joint bank accounts and pictures. I am wondering if the trustee can take these items of if they are automatically exempt from becoming part of the bankruptcy estate.
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 8 years ago.

Hello,

Thank you for your question. I am happy to assist you.

On the bankruptcy petition a debtor is required to list ALL assets even if an exemption applies. On a separate schedule you can list the items that you are claiming exempt.

I hope that the information which I provided was helpful to you.

Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.

Thank you,
FLAandNYLAWYER

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Customer: replied 8 years ago.
No, that didn't help

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