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utma account debtor trustee
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David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
lindseybgreen
Sent: Tuesday, February 23, 2010 11:25 AM
To: cdcbaa@yahoogroups.com
Subject: [cdcbaa] utma account debtor trustee
Facts: Debtor is trustee of UTMA accounts, 1 totaling $190,000 and other
being $65,000. Owner of account is 15 year old minor child of debtor.
UTMA acct. opened in 2008 but funds can be traced back to earlier UTMA acct.
from prior bank where UTMA acct. existed for years. How safe is UTMA
accounts from Ch. 7 Trustee?
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgree n.com
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Message
very
David A.
Tilem
Certified Bankruptcy
Specialist*
The post was migrated from Yahoo.
Presuming the funds are not traceable to the debtor going back for
four years so that there are no fraudulent conveyance issues, the
UTMA/CUTMA accounts are not the debtor's assets. Such accounts are
under the minor's social security number, not the debtors. The debtor
is merely a fiduciary. I would disclose it under SFA 14 property held
for a benefit of another.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868
On Tue 23/02/10 11:25 AM , "lindseybgreen" lindsey@gummandgreen.com
sent:
Facts: Debtor is trustee of UTMA accounts, 1 totaling $190,000 and
other being $65,000. Owner of account is 15 year old minor child of
debtor.
UTMA acct. opened in 2008 but funds can be traced back to earlier
UTMA acct. from prior bank where UTMA acct. existed for years. How
safe is UTMA accounts from Ch. 7 Trustee?
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com [1]
Links:
[1] mailto:Lindsey@gummandgreen.com
[2] mailto:lindsey@gummandgreen.com?subjectutma account debtor
trustee
[3] mailto:cdcbaa@yahoogroups.com?subjectutma account debtor trustee
[4]
The post was migrated from Yahoo.
Facts: Debtor is trustee of UTMA accounts, 1 totaling $190,000 and other being $65,000. Owner of account is 15 year old minor child of debtor.
UTMA acct. opened in 2008 but funds can be traced back to earlier UTMA acct. from prior bank where UTMA acct. existed for years. How safe is UTMA accounts from Ch. 7 Trustee?
Lindsey B. Green, Esq.
Gumm & Green, LLP, Attorneys at Law
5743 Corsa Ave., Suite 111
Westlake Village, CA 91362
phone: 818 707 4233
fax: 818 707 4262
e-mail- Lindsey@gummandgreen.com
The post was migrated from Yahoo.