Are children’s assets listed in their parent’s bankruptcy?
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Are children’s assets listed in their parent’s bankruptcy?
Asked on June 19, 2012 under Bankruptcy Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Under federal bankrupcy laws only the assets of the person who plans for filing for bankruptcy protection are included in the filing for such protection. The assets of your children that are theirs, not yours are not to be included in your bankruptcy schedules.
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