Q: If I file for bankruptcy, will the government go after my spouse's assets as well as my own?
A: While there are exceptions and certain exemptions, a spouse is usually included in an individual's personal bankruptcy filing. This might be different if the bankruptcy relates to a business. Contact a lawyer for details--expect to pay for the advice.
Lawyers, want to be a Justia Connect Pro too? Learn more ›
- Colorado
- (303) 297-7729
- View Profile
- Answered
A: In general, the filing of your bankruptcy will have no impact on your spouse's separate assets. Only your individual assets and joint assets may be subject to liquidation. If a debtor recently transferred assets to a spouse (or any other insider) to avoid liquidation of those assets in bankruptcy that could be seen as an avoidable transfer. In other cases, the trustee may consider certain assets to be joint assets even if you are not on title. For example, if you have been helping to pay the mortgage on a home but you are not on title, that could be an issue in the bankruptcy.
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.
