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Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Colorado, personal bankruptcy; what happens with money in

Customer Question

Colorado, personal bankruptcy; what happens with money in children's accounts? Also, if a joint signer to a mother and/or sister's bank account is that money also vulnerable to being takes to pay debt?
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.


If the children's money is in a custodial account and you have not made transfers of your personal money into the account, it will typically not be included in the bankruptcy estate.



However, if you are a joint on a bank account with another person, that money will typically be considered part of the bankruptcy estate.


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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THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE

Ellen and other Bankruptcy Law Specialists are ready to help you
Customer: replied 8 years ago.
Thank you very much for your help. I am sure I will have more questions as this comes closer.
Expert:  Ellen replied 8 years ago.
Best wishes to you. Thank you.