Re: UGTMA

Filing Bankruptcy Chapter 7 and Chapter 13 Personal Bankruptcy

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Posted by: Brett Weiss on 12/01/03:

In Reply to: UGTMA posted by: gary on December 01, 2003 at 14:30:47:

: If i am the custodian on a gift act to minors savings account for my child is this type of account included if i declare chapter 13? or since they own the account is it excluded? (i believe that it is under my ss #)
You are the trustee, not the owner of the account, so it isn't subject to creditors' or trustee's claims. Speak with your attorney for more details.
Brett
lawyer@erols.com
http://www.erols.com/lawyer
--> Read our Bankruptcy FAQ at http://www.erols.com/lawyer/faq/br_faq.htm
*****************************************************************
The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
such. If you want legal advice, speak with a local lawyer
familiar with your state's laws who can review *all* of the
facts and the law applicable to your situation.
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Subject  : Re: Re: UGTMA

Comments:
: : If i am the custodian on a gift act to minors savings account for my child is this type of account included if i declare chapter 13?  or since they own the account is it excluded? (i believe that it is under my ss #)

: You are the trustee, not the owner of the account, so it isn't subject to creditors' or trustee's claims. Speak with your attorney for more details.

: Brett
: lawyer@erols.com
: http://www.erols.com/lawyer

: --> Read our Bankruptcy FAQ at http://www.erols.com/lawyer/faq/br_faq.htm

: *****************************************************************
: The Small Print: This response is for discussion purposes only. 
: It isn't meant to be legal advice and you shouldn't treat it as 
: such. If you want legal advice, speak with a local lawyer 
: familiar with your state's laws who can review *all* of the 
: facts and the law applicable to your situation.
: *****************************************************************




 
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