Question about husband's bank account

[Cheetara]

I plan on filing for chapter 7 bankruptcy in the near future. I will be doing this in the state of Massachusetts, and independently of my husband.

I have had my own checking account for about 5 years, and have almost no money in my account. The problem is, my husband has about $12,000. in his account, and put my name on the account awhile back. I've never made any deposits or withdrawals from this account.

Since my husband is the owner of this account, and I have my own checking account, what are the chances the court will take posession of my husband's money? Should I tell him to remove my name from the account, or do something else? I really don't want him tangled up in this mess.

Thanks,

Cheetara

[HHM]

You should probably speak to an attorney about this. Mass. is not a community property state, but that doesn't necessarily mean you have no interest in your husbands money under Mass. law. If the money in the account was earned while you were married, then it will be considered Marital Property and therefore you have some interest in that money. Taking your name off the account might help, but only to demonstrate that the money is generally kept seperate, but doing so will have no legal effect if you still have some interest in that money.

[Cheetara]

Thanks for the advice

I do plan on speaking with a lawyer this week. Actually, I've only been married a couple of months, and my husband had the money prior to us being married.

I wil definitely tell my husband to take my name off the account. I have no intention of concealing assets here, but how does the court actually find out about bank accounts? I didn't think they were even listed on credit reports. If I have my husband take my name off of this account, do I even have to tell anyone about it?

These, of course, are probably questions for my lawyer, but if anyone has been in a similar situation, I would appreciate some feedback.

Thanks,
Cheetara