Q: Why do I have to give my husband’s bankruptcy attorney my income and pension information? We live in California and name
A:
Bankruptcy proceedings often require the disclosure of household income to accurately assess the financial situation. This is because the state uses a community property system, which means that assets and debts acquired during the marriage are generally considered jointly owned by both spouses.
Your husband's bankruptcy attorney needs your income and pension information to provide a complete picture of the household finances. This information helps in determining your husband's ability to pay debts and might influence the type of bankruptcy filing that is most suitable.
Remember, providing this information does not necessarily mean your assets or income will be directly affected by the bankruptcy. It's primarily for assessment purposes. However, it's advisable to stay informed and actively participate in the process to understand how it might impact your financial situation.
Martha Warriner Jarrett and Timothy Denison agree with this answer
A:
Think about it. It's logical. (Also, the law requires it.) Here's why that is.
First, you live in a community property state. The law says that community property belongs to both spouses, even though you yourself don't practice doing that. The law overrides how you and your spouse handle your money. And, the court is interested to know who your husband is married to.
If your husband is married to a wealthy woman like Julia Roberts, doesn't it seem right to you that it could have a bearing on whether or not your hubby gets to file a BK?
I'm not surprised that you ask this question. What surprises me is why your husband's lawyer can't give you the answer. Lawyers who can't answer basic questions or who won't make themselves available to do so ought to be doing something else for a living. What a shame it is that his lawyer gets paid for poor service.
Martha Warriner Jarrett , Timothy Denison and Yelena Gurevich agree with this answer
A: California is a community property state which means that you probably own everything and owe everything jointly. Plus the bankruptcy forms require that he include your information for purposes of his filing bankruptcy. Ask to meet with his attorney so he or she can explain the process to you.
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