Texas - Ch7 Joint or Community? Also Insurance Question

[synergy]

My husband & I are filing joint. In the places for listing accounts, etc would our acounts be considered joint or community. I know TX is a community state but I'm not 100% sure what this means.


Also, with insurance policies. I have life and ad&d policies through work, do I just call the company to find out what the refund value is or list the value that would be disbursed upon my death?

Thanks

[StaciMM]

Regarding the policies-I think what they're asking for is cash value, which the policies you described wouldn't have any.

If you're both filing, its probably not really an issue whether you go with joint or community. Would be more important if only one of you were filing. (I've read that a community asset cannot be used to pay off a non-community debt.)

[synergy]

Personal Loan Question

If we are paying on a loan made to us by my in-laws should I notate that under "installment payments"?

[StaciMM]

That's beyond my area... If you don't have something in writing regarding the loan it will probably be counted as preferential payments to insiders. The trustee might require your parents to give the payments back to be distributed among your creditors equally.