hey guys!need some advice.every year i always file -married filing jointly.since im filing bk, not my husband, my lawyer suggested to file separately this year.he makes way more then me so he said to have my husband claim the three kids then they can only go after my refund not his.what do you guys think?
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It sounds like a good idea.
Just as an example here,............ Say you and Hubby file taxes Joint and you typically get back a $5K refund. Half that money, or $2500, is up for grabs by the Trustee because you filed BK. Could be that your Hubby is the one that paid in the bulk of the tax refund you usually get back.
Maybe, next spring, run it both ways and see how it comes out. Run one with you filing Joint and then run your taxes again filing Married, but Seperate. See which one works to your advantage.Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...
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