How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
9968427
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

My father is 88 years old and becoming more and more mentally

This answer was rated:

My father is 88 years old and becoming more and more mentally incompetent each day. He received a large sum of money recently and then got involved in a Jamaica lottery scam. During that time I was in the middle of filing bankruptcy, My family wanted someone else on his bank accounts to help monitor that he wasn't sending money to Jamaica so I was put on his account with the understanding that i was just a signer on the account. As soon as my bankruptcy was filed Wells Fargo seized all the money in his account and sent it to the trustee. I have not deposted money to or taken money out of the account. I am not on the checks. I have produced the check written specifically to him for the large amount of money. In my stupidity I did not even think about the account when I filed bankruptcy because it is not MY money. Will the trustee really be able to keep all the money to pay my debts even though it is clearly not my money?

FiveStarLaw :

*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

FiveStarLaw :


Hello,


 


My name isXXXXX shall strive to provide you with legal information. My answers are information only and do not form an attorney/client relationship.


 


If at any time the information which I provide is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button. When we are done, please take a moment to click the rating tab to rate my work. My goal is EXCELLENT and I hope your rating reflects that.

FiveStarLaw :

It is possible that the trustee will retain the funds


 

FiveStarLaw :

All assets owned by a debtor on the date of filing are considered to be property of the estate unless the asset is exempted by a specific exemption

FiveStarLaw :

I am still typing – please give me a moment

FiveStarLaw :

The presumption is that any bank account that you are signatory on is your asset and is therefore part of the bankruptcy estate


 


To overcome this presumption, you would need to file an adversary proceeding in the bankruptcy and ask the court to determine that the account is a "convenience account" and should be omitted from the bankruptcy estate

FiveStarLaw :

I suggest that you retain the bankruptcy litigation attorney to assist your bankruptcy attorney

FiveStarLaw :

Bankruptcy litigation is very complex

FiveStarLaw :

have I answered your question

Customer:

yes thank you

FiveStarLaw :


Here is a link to a free site that may assist you in locating competent legal counsel: www.Martindale.com

FiveStarLaw :

I wish you the best at this difficult time

FiveStarLaw :

If you would take a moment to click the rating tab to rate my work, I would appreciate it. My goal is EXCELLENT and I hope your rating reflects that.

Ellen and other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions