Q: I will be filing for bankruptcy chapter 7 in a couple weeks. My mother had put my name on some stock after my father
passed away so it could be used for unpaid debts, funeral cost etc after she passes and doesn't have to go through probate. I have heard that my creditors will be able to take that stock money because my name is on it as a joint tenant. Should/can I get my name taken off the stock, or is there any other suggestions so they don't take my mother's money? Thank you.
A: Do not take your name off the stocks. Removing your name may cause the trustee to act. Depending upon the amount you can use your wildcard exemption to protect the stocks.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
