Asset Listing Confusion

[laywerless]

What is the name of your state? Florida

I have been searching the forums trying to find this answer, to no avail! I am married filing alone, I have gathered so far that I should still list my husbands income and personal property. My confusion is because of the way that Schedule B groups it into categories. So I am to list for example all the household goods and then place a C for community. How does this work if each item is not separated and given a value when say the majority of higher priced items belong to my husband? I guess this is the question. Filing as an individual, on the summary of schedules is the value for assets is going to be my husbands and mine combined?

Do I need to have an alternate list of items where they can be all given values and separated?

Also, it says "Description and Location of Property" If all property is located at home, must I write that? How detailed of a description must I provide? Brand names or just item titles?

Thank you in advance!
-Lawyerless

 

[Ladynred]

First, I strongly suggest you go get the Nolo Press book "How to File for Chapter 7 Bankruptcy". It explains every form, line by line, the whys, hows, etc.

You should only be listing only YOUR assets if you are the only one filing. Anything that is your DH's alone you should not be listing. If its marital assets, then list it with a value of HALF what it would normally be. Personal property is valued at GARAGE SALE prices - not resale, not replacement.

FL allows you a mere $1000 in personal property, so you don't want anything on your schedules that would inflate that number. I don't think you list as 'community', I believe you would list as 'joint'. FL is not a community property state.

Description and location of property - you don't have to get too descriptive - 'furniture' is sufficient. The location is more for property that might be stored elsewhere or property in other states. It is presumed everything else is in your normal place of residence.

 

[laywerless]

Thanks

Thank you for your quick reply! I will check out the book you have recommended.