Joint Invesment accounts in Bankruptcy
December 8th, 2006 by Questions
Me and my wife have about 30K in a joint investment account. Both of us were employed when we funded the account in 2003 and I had contributed 20K and she contributed 20K. We had withdrawn about 25K in 2006 from that account for personal expenses. I had lost my job in March ’06 and have about 80K in unsecured debt that I’am unable to keep up the minimum payments. I am planning to declare bankruptcy. I need to know what will happen to the money in the joint account when I declare bankruptcy. Will all the money go to the trustee or will a portion of it go to my wife?