Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
How many are in your household?
1) What is your husband's gross annual income, and
2) how much does he pay for child support?
3) Is there any other income coming into the household? If yes, what and how much is it?
The only way your current husband's income would not be taken into account is if you were legally separated. This is in spite of the fact that there is a pre-nuptial in place, and in spite of the fact that you are keeping your assets and income separate.
In any event, with a household of 4 (the children who stay part time would not be included), you would not be able to file a Chapter 7 Bankruptcy with an annual gross household income of more than $61,836. This would include the child support payments you receive, and the child support payments that your husband pays would be subtracted.
I just carefully re-read the statute. You do not include the portion of your husband's income that is not contributed to the household. If he is keeping his money separate, that money does not count.
Additionally, when you consider your income, you are supposed to look at the net gross, which is the gross minus all business expenses (but before subtracting income taxes).
Since you bring in $50,400 from child support, if you can show only $11,436 additional net gross income from your practice and whatever money your current husband contributes to the household, it is possible to file a Chapter 7.
Whether or not you can file depends on the Idaho Means Test guidelines. The exemptions (Utah in this case) are the items you are allowed to keep when you file a Bankruptcy.
One other thing - when you take into account what your husband contributes to the household, that amount is not supposed to include what "was NOT paid on a regular basis for the household expenses of the debtor or the debtor's dependents". Bankruptcy Form 22A. In other words, any money your husband contributes to the household that does not benefit you or your children does not count.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).