Monday, October 29, 2007

What would you do?

I had an interesting conversation with my friend James over the weekend. Seems the Trustee does want my inherited jewelry after all! I've gone "over" my exemption listed and he'd like an appraisal and or the jewelery. He even got the court to mandate an order to turn it over (no set date) as it exceeded the exemption and was not "wedding jewelery." James said I just should have lied and not mentioned the jewelery. I responded Why Would I Lie?

The letter from the Trustee spelled out three things :

1) They need a copy of my bank statement as of the day of the filing -which for the record I had a balance of $195.84 in my checking account and $100.16 in my HSA, and about $40 in my wallet. I gave him copies at the hearing, perhaps he mislaid them.

2) They want my 2007 tax refund (are they going to pay if I owe? :) )

3) They want the non personal wedding jewelry, or I can "buy it" from myself and send him the money. I'm double checking on this last point.

James said I should have not even listed the jewelry, but I did not think to not mention it. I did not realize there was an exemption. Would I have not mentioned the jewelry? I really don't know. I don't think it's good practice to lie about stuff, I listed my assets and liabilities. The jewelry was one question on the form and I answered it. As someone else pointed out-They don't come and check your personal possessions do they?

I'm guessing folks do try to "hide" things from the Court Trustees, I listened to one case being reviewed prior to my hearing and it seemed like these folks had tried to hide cash or assets with family members (all being involved in the same family business too!)

I have to stop by the store and pick up the ring and the appraisal this week, I'm curious to see what the appraisal came in at and will take it from there.

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