Originally posted by keepmine
View Post
-
I agree. You can get "gifts" from family up to the irs standard of $13,000 a year. This is what my attorney told me. -
I have to disagree a bit, "Keepmine" in that it is income even though a gift. Once the OPs hand is on it, it is an asset. I agree that if he is that destitute, that he needs family help, he will get by. He needs to take it cash, but not hide the amounts or the facts where it is coming from. If it is a gift only, and he is using it for survival, then most likely it will be passed by.Originally posted by keepmine View Post
Trust me, I have been there and it cost me dearly as I paid back a debt in which we were supported for a time. Cost me double. 'HubLeave a comment:
-
No law says, you can't get help from family.
They'd have to sue and win before anything like that would happen. As long as your name is not associated with a bank account, nothing can be seized.Leave a comment:
-
Yes. That is a regular income. Your Trustee may ask you where do you get enough money to live on? If this is a loan then do not pay anything on it as it would be an insider and preferential payment. Are you living at home or on your own? The rent comes from somewhere and these Trustees are not stupid. If you are paying just bare minimum survival, this could get you by, but you MUST explain your income. 'HubLeave a comment:
-
Can they touch money that family gives to support you?
Right now my family supports me.
My brother who lives out of state sends money to my familiy which they deposit and pay my bills with.
If I have to stop payment on my cards can this money be gone after or considered income in any way? Currently there is some left over after bills, but if I stop payment their will then be more. At that point though I could just have the family cash the checks then.
I don't really know if their are any issues to worry about here, but I figured it was good to educate myself in case.
Leave a comment: