Q: If one spouse files for bankruptcy, is it best for both to do so in order to protect/exempt jointly owned property?
A: That is going to depend on several factors, including whether or not the spouse has any debt, the value of what is owned, how many exemptions you have, etc. I see that you are in Springfield, please contact a local attorney in your area as bankruptcy is complex; they can best advise you once they have the complete picture- including income, assets, etc. Good luck.
A: It depends on whether your state does federal exemption or State. Check with an attorney in your jurisdiction.
A: If it is jointly owned property, the Bankruptcy Trustee, has no rights to property belonging to the non-filer.
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