[CLBS] property of the estate question

[Randy French]

I always consider the source of the gift.  If it is from the parents who
will be debtors, then I consider it as part of the estate and exempt it.  IF
IT IS FROM ANY THIRD PARTY - GRANDPARENTS, FRIENDS, OTHER RELATVES, AND TILT
NEVER PASSED THROUGH THE PARENTS, I CONSIDER IT TO EB THE KIDS PROPERTY AND
NOT PART OF THE ESATTE.  Then I list the property in the SOFA as property
held by the parents but owned by the kids.


Thanks.
Randy French

Law Office of Randal J. French, P.C.
Attorneys at Law
AP.O. Box 836 PBoise, ID 83701 B(208) 859-6881  

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-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of Howard Foley
Sent: Tuesday, August 23, 2016 1:49 PM
To: David Brown; clbs at admws.idaho.gov
Subject: Re: [CLBS] property of the estate question

For what it is worth I have always considered the kids property ( assuming
it is age or history appropriate/defendable) as the kids and I don't list
their tricycles.  Were the securities purchased as Uniform Gifts to Minors ?

-----Original Message-----
From: CLBS [mailto:clbs-bounces at admws.idaho.gov] On Behalf Of David Brown
Sent: Tuesday, August 23, 2016 11:12 AM
To: clbs at admws.idaho.gov
Subject: [CLBS] property of the estate question



 I have a potential debtor that needs to file chapter 7. Her mother has
purchased stock and debentures for debtor's children. They have only ever
been in the mom's and the children's name. Never in the debtor's name. My
concern is that the trustee may claim that the stock and debentures are
property of the estate since the children are minors and minors property is
also debtor's property. On the other hand debtor has never purchased these
and has never had an ownership interest in them. Thoughts?

Thank you, David Brown
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