Bankruptcy Law Questions? Ask a Bankruptcy Lawyer Now.
We just found out the Joe’s Ex-Wife Laura has some claim to some share as community property from their marriage and the law states that it is joint shares community property in Joe’s company VARs Plan he was given units that vested/matured in 2009 they started in 1999 -2009 (10) years vested. The company terminated the units and paid them out. Because he did not disclose this in there dissolution of marriage she is taking him back to court for 100% of those vested units. She has rights to ½ of the units.
She filed Bankruptcy on 05/27/010 filed an Amended on 07/30/010
She was Discharged on 09/20/2010 Final Decree was on 08/10/11
I was told whether or not she was aware of those units the Bankruptcy court has the right to the ½ she gets to pay back the creditors. It’s enough to pay back the creditors and then some.
She was aware of the units and did not disclose this because she knows that they would take 10 years to vest. In 2004 she went to the ATA/SDI Dinner meeting where they explain how the Units worked.
She said she has been discharged and the Bankruptcy courts can no longer come back on her.
Does Family Law Court have jurisdiction over the assets entitled to her?
Let's just say she was entitled to $191,000.00, but she filed Bankruptcy on:
$114,640.65 on creditors, which $95,000.00 of that amount belong to her "sisters" they did that in order for her to qualify for bankruptcy.
$7,500.00 belongs to my husband for his civil case against his ex-wife for willful curtly!
$20,253.00 was non-priority claims owed to the Franchise Tax Board and Internal Revenue.
She got "Waiver of Chapter 7 filing fees".
Whatever is lifted over is due back to her?
Because she is entitled to $191,000.00 and she only owe's the Bankruptcy Trustee
$134,893.65. Leaving $56,106.00 to go to her. So she is entitled to that right?
I was total that because we paid taxes on that money, it is now income to her, we have total the amount she is entitled to then deduct Federal and State, plus now she has to pay us child support, we have 75% custody of minor child. Then the reminder will go to the trustee. She has not paid taxes in five years. It is not a write off for us, because it is not Spousal Support, plus that ended. It is Income!
I don't know how that works. I only know that whatever amount she receives belongs to the Bankrutpcy estate - which was your original question.
Perhaps you can get the answer to that question by posing it in the Real Estate Law section.