If my husband files for bankruptcy, will my personal savings be claimed?

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If my husband files for bankruptcy, will my personal savings be claimed?

we have seperate accounts and no joined accounts. He is the sole provider and I have a very little income but still try to save everything I can. He is living ‘large’ and is now ready to file for bankruptcy.- would the situation be different if I filed for divorce before he files for bankrupcy?

Asked on May 17, 2009 under Bankruptcy Law, Florida

Answers:

MD, Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

A number of questions-- are these marital debts? Further, just because you have separate bank accounts doesn't mean the money in them is considered a non-marital asset. How do you have these debts - in whose name?

Oftentimes, just because one spouse is discharged, doesn't mean the other isn't.  Further, divorce only serves to separate future debts -- not those occurred DURING marriage.

 

Your best bet, consult with a bankruptcy attorney in your state and decide what impact the living large is going to have for you.  Try www.attorneypages.com and then check his or her record at the Florida State Bar.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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