Paying for daughters wedding during bankruptcy
March 8th, 2010 by Questions
We have just found out our daughter is planning her wedding for August of 2010 and it is the parents responsibility to pay for the most part, would this be an exemption.
Posted from: Alberta
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March 09, 2010 at 9:29 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
While I know some people who pay for their childrens wedding costs, I know others who have not, or only pay a portion as it is split with the in-laws or even the children.
Regardless, the list of exemptions available is very specific and does not provide for wedding costs.
Nor would it qualify for as a non-discretionary expense when determine what your surplus income obligation. So if you choose to pay a portion of this for your child you will have to exercise some caution as you still will have your monthly payment obligations in the bankruptcy that will need to be fulfilled.