Expert: Mark J. Markus- California Bankruptcy Attorney - 10/29/2009

Question
QUESTION: I live in a community property state, WA.  My wife and I just got married in February.  I am filing for ch. 7 bankruptcy because of some debts I acquired prior to meeting/marrying my wife.  I do not have a bank acct, but my wife does (less than $1k in it and I'm not on it).  The only communal debt/communal asset we have is a car she bought in her name after we were married.  She owes $10,000, it's worth $12,000.  On schedules B & C of the bankruptcy papers, I'm not sure what I am suppose to list with regard to her bank acct, car and personal belongings (ie-wedding ring, shoes etc).  I was told that I do not have to count any of her assets if she acquired them prior to our marriage in Feb.

ANSWER: That's incorrect.  You don't have to list any assets she acquired PRIOR to getting married, but anything she acquired afterwards is community property, including income, and must be listed.

http://www.bklaw.com/

---------- FOLLOW-UP ----------

QUESTION: Thanks you for your reply.

Would I have to list her checking account then if it was hers prior to our marriage and has less than the $200 allowed maximum? I'd prefer to leave her out of this as much as possible.

Thanks again,

Travis

Answer
If no money has been deposited into her account since you got married, then you can probably leave it off, but you should really check with an attorney in Washington to make sure it is actually her separate property.

Perhaps more relevant is, why not just list it if there's only $200 in it?  Are you beyond the exemption limit for personal property?

To see more on exemptions, visit http://www.bklaw.com/exemptions.html