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This depends on the laws governing bankruptcy in your state. Whether or not you can use both state and federal exemptions and several other factors. Usually a trustee will only allow the home that is the primary residence of the filer to be used as an exemption and/or reaffirmed. This means the home you occupy would be included in your father's assets and would be sold. In order to protect your home it would have to be titled in your and your wife's name. Which may or may not save it, as there is a bankruptcy law called "fradulent conveyance". It is quite complicated, and I would advise you seek the counsel of a good bankruptcy lawyer.
What else can I help you with?
If you are not married but live with someone are they counted in the means test for bankruptcy?
When you are living with someone they are not included in your bankruptcy. If you are paying them rent, then the money you pay is an expense and will be considered for bankruptcy.
How does bankruptcy affect a beneficiary on the living persons' bank account?
by putting u in debt
Is a living trust EXEMPT FROM BANKRUPTCY?
Sometimes, parts of a living trust can be exempt from bankruptcy such as exemptions for a homestead, but even that isn't always the case. How a living trust is treated in a bankruptcy varies depending on how the laws of the state treat this type of trust as a whole. Typically though, living trusts are not fully exempt from bankruptcy.
Can I keep my house and car out of a bankruptcy?
You are normally allowed to keep the house you are living in and one car in a bankruptcy.
Does someone living at an address with a bad credit history affect the credit rating of that address for anyone else living there?
No. Credit is tracked by the individual, not by an address.
How did the Mayan area of living affect their way of living?
the mayan area of living affect their way of living because........
How do mountains affect living things?
moutains affect living things
Can the assets in a revokable living trust be affected by a bankruptcy of the trust holder?
Yes.
How is the monthly dues of a home owners association handled in a chapter 7 bankruptcy?
Your bankruptcy attorney is best prepared to answer your question, especially if you expect to continue living in the home.
Sentence with the word bankruptcy?
Example sentence - Her father tried to advise her on numerous occasions she would have to file for bankruptcy and loose everything because she was living well beyond her means.
Did the Gold Rush have any affect on the people living near it?
The gold rush did have an a affect to the people living near it also it ha an affect to he aboriginals who were living at Australia at the time.
How do any living thing affect puffer fish?
how do any living thing affect puffer fish
