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Dependent's PI Case Property of Parent's
Ty:
At 03:12 PM 6/9/2005, you wrote:
>Prospective client is the mother of a 4 year old child who has a PI
>case pending, (he was hit by an automobile). Settlement amount may
>exceed $250k. Mother is guardian ad litem for son in the lawsuit.
>Question 1: is son's lawsuit property of mother's bankruptcy estate?
No. "Guardian ad litem" means that the guardian is appointed to represent
the minor's interest in the lawsuit. The minor child is the owner of the
claim, not the debtor. If the case is settled, the court will likely order
that the net settlement (after attorney's fees) be placed in "blocked
accounts" which can only be touched with court order.
In the Statement of Financial Affairs, I would list this as "property of
another being held by the debtor."
>
>if yes, can suit be prospective award be protected under CCP 704.140
>(a)?
I'm sure the answer is "no," so no need to do the exemption analysis.
Silvio Nardoni
Glendale, CA
The post was migrated from Yahoo.