Husband and I filed jointly for Ch 13. (We're in Minnesota)
At our 341 mtg last week, the trustee asked if our house was in both our names. I replied "no, it's only in my name". Which it is - since "I" technically bought the house before we were married and we never had the title changed after we were married. Our lawyer was aware of all of this prior to filing.
Evidently, our lawyer put the house in both our names and used the Federal exemptions when he filed our plan -- but now has to change to state exemptions due to the house being in my name only. I do not get this at all!!!
Why does this change which exemptions we are allowed to use (State vs. Federal)??? Even though the title on the house is in my name, if we were to divorce, he would be entitled to half. Why doesn't it work this way for BK - especially since we are filing jointly??? I'm so confused
And, now because all of this, looks like we're going to have to pay more into our plan.
Can anyone shed some light for me???
At our 341 mtg last week, the trustee asked if our house was in both our names. I replied "no, it's only in my name". Which it is - since "I" technically bought the house before we were married and we never had the title changed after we were married. Our lawyer was aware of all of this prior to filing.
Evidently, our lawyer put the house in both our names and used the Federal exemptions when he filed our plan -- but now has to change to state exemptions due to the house being in my name only. I do not get this at all!!!
Why does this change which exemptions we are allowed to use (State vs. Federal)??? Even though the title on the house is in my name, if we were to divorce, he would be entitled to half. Why doesn't it work this way for BK - especially since we are filing jointly??? I'm so confused
And, now because all of this, looks like we're going to have to pay more into our plan.Can anyone shed some light for me???