Yes, you are required to disclose assets you own anywhere in the world, and your bankruptcy trustee can collect on any significant property you may own in foreign jurisdictions.
The temptation to hide overseas property or investments is strong for many people, who assume that foreign property is immune to bankruptcy matters or that the property is unlikely to be found.
It’s a dangerous game. If the trustee discovers your undisclosed property, your failure to include it in your filing can carry serious consequences, from loss of exemptions and discharge to criminal prosecution.
Don’t take risks like this when filing for bankruptcy.
At Zelenitz, Shapiro & D’Agostino, we can help you prepare for bankruptcy and ensure that the assets you value most are protected.
Call us today at 718-599-1111 for a free consultation.