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Are Joint Bank Accounts Property of the Bankruptcy Estate in Utah?

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Yes, a joint bank account would be considered property of the estate because you technically own 50% of the money in the account. However, this does not mean that you are automatically losing whatever is in that account. There are specific situations that some or even all of that money may be protected in a bankruptcy (i.e. Social Security Income, Social Security Disability, life insurance proceeds, etc…) Depending on if you decide to file a Chapter 7 or a Chapter 13 will also greatly affect what will happen to that account. In a Chapter 7, the trustee may request that you turn over your interest or your percentage in that account to the Trustee. In a Chapter 13 they would simply ask you to pay back that amount to your unsecured creditors through your bankruptcy plan payment. To discuss your specific situation with a Utah bankruptcy attorney, contact us today for a free consultation.

Written By: Ryan Swapp Legal Review By: Craig Swapp

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Client Reviews

“I was concerned with all the paperwork”

Before calling your firm I had 2 big worries. One was I didn’t want to do more paper work, and that fear was resolved when I had to do very little, but Craig Swapp and Assoc. did most of it, and when I did have to come in to sign papers they worked around the times I could do it. Worry 2 was I didn’t want people to think I was “sue happy” and that I was just out to get money. I just wanted my bills to be paid for that were from the accident, and that was resolved I think by Mr. Wes Mortenson and Theresa because they listened to what I had to say.

Amber W.,

Spokane, WA

"I would hire them in a second"

My biggest fear was not having all the expenses caused by the accident paid for in full. I was assured they would be taken care of but I admit I was skeptical. When we wrapped everything up (which happened quicker than I was originally told) I had extra money in my pocket. I honestly thought there was a catch but my attorney explained everything to me in detail. If I am ever in that position again I’ll be giving Craig Swapp a call.

Robert N.,

Spokane, WA

"I was afraid of the fees"

I was afraid of the fees I would have to pay a lawyer. I waited over a year before hiring your law firm. I finally reached out to your online help where they were able to help me understand the process and what would happen. In all honesty I absolutely loved working with the individuals that were involved in my case. They were genuine & heartfelt about my case. It felt as though they really cared and were concerned about me, not just as a client but as a person.

Lacey B.,

Salt Lake City, UT

"I was afraid that my issue was too small"

I was afraid that my issue was too small to be handled, and that it would just be rejected. Or that I’d end up having to pay for my medical expenses and any of your teams expenses. I would definitely answer yes, it was resolved! I wasn’t ever made out to feel like my little issue didn’t matter, and my expenses were paid for- just what I wanted/needed.

J. Rohas,

Caldwell, ID

"I am very pleased with the results"

My biggest fear was that it would be pointless to pursue legal action in my case. I felt like maybe I didn’t have much of a case. After speaking with Paul, I realize it was not of my own fault and that others can be held responsible for the pain and suffering I went through.

Dollie J.,

West Jordan, UT

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