Bankruptcy

"Why Did They Ask the Value of My Dogs in My Bankruptcy Schedules? Will the Arizona Bankruptcy Trustee take my Dogs?"

By Joseph McDaniel, Esq.

Dogs eat.

Trustees don't like assets that eat, defecate, or die. Or bite. Did I leave out bite?

I remember a case many years ago in which a debtor had a very valuable wolf/dog cross, and properly listed it at a value far above the pet exemption in Arizona.

The trustee did not want to take custody of, feed, shelter, or attempt to sell said wolf hybrid.

Now, is it possible that your bankruptcy trustee will want your dog, even though a trustee has never wanted a dog in one of my cases in the past thirty years of practice, and I've never seen a case in which a dog was taken from a debtor because it was too valuable?

Sure. It's possible.

And it's possible that Cyndy Crawford will grab a fast plane, come to Arizona during Monsoon Season, and beg me to run away with her. You know?

In the same way, it's possible that the trustee will want your dog.

Now, if your dog is a Best of Show Winner at Westminster, the trustee might want your dog, or you might have to pay your Arizona bankruptcy trustee in order to keep your dog, which is far more valuable than the Arizona Exemption for pets; so let me know if you have a Westminster Best in Show, okay?

If your dog looks like these, for instance, we may need to talk about the Arizona pet exemption in Arizona:

Otherwise, relax about the dog; the trustee hates assets that eat!

Now, horses can sometimes be an issue, but I'll talk about that later.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on July 24, 2010 (boomark / email).