Why not purchase the house from the daughter and create a homestead
exemption.
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem
500 N. Brand Blvd., #460, Glendale, CA 91203
Tel: 818-507-6000 Fax: 818-507-6800
* Personal & small business bankruptcy specialist cert. by State Bar of
CA Bd of Legal Specialization.
Sent: Friday, April 02, 2004 10:07 AM
To:
cdcbaa@yahoogroups.com
Subject: [cdcbaa] certificates of deposit
I have a client who during my interview disclosed that she had a CD with
approximately 30k in funds. She decided to withdraw the funds as well
as
funds from her various bank accounts. She does not yet have a 401k with
her
work as she has only been with her new company 5 months, so she can't
just
put the money into a 401k plan. Any advice on what to do with the funds
from
the CD in terms of exemption planning. Also, debtor lives in a home
that is
under her daughter's name, but she makes the payments on both mortgages
as well as all the other home expenses. Should this be listed as
property in
debtor's possession but belonging to someone else? Any advice
appreciated.
Wayne A. Wilhelm, Esq.
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