Question:
I am going bankrupt myself because im in debt.
My daughter has money in her account which is in both of our names jointly because she is only 3 I know all my accounts are frozen when I become bankrupt but will this include my daughters account? Thanks
Answer:
In bankruptcy any account that has your name on it will be frozen, so yes that account can be frozen as well.
You may want to inquire with the bank about removing your name and/or opening another account for her in a family member's name.
Also, if your name is on the account the Official Receiver may question the account if there is a large sum of money in it.
You are allowed a basic account in bankruptcy so you could open one prior to going bankrupt.
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Jon
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