Many of our clients want to know when the trustee will come to their home to look over their property. Debtors filing a chapter 7 bankruptcy are anticipating the trustee coming into their homes to determine what property will be sold during the course of their case. Our clients are relieved to know that the Kansas City trustees do not come into debtors’ homes as a general rule.
The trustee may arrange for an appraiser to come to your property to value a certain piece of property. If you have non-exempt property such as a boat, recreational vehicle, or valuable artwork, the trustee may want to verify the value of the property to determine if he will sell the property. Kansas bankruptcy exemptions protect debtors’ household goods and furnishings, so there is little need for a trustee to come into a debtor’s home to inspect these items.
Debtors are required to list all their assets, so if there is a valuable piece of artwork, the piece must be listed in your schedules filed with the court. Debtors sign their Petition, Schedules, and Statement of Financial Affairs under penalty of perjury; this is not to scare debtors but to ensure all documents are truthfully filed.
If you have valuable non-exempt property, it is important to speak with a Kansas bankruptcy attorney to determine your options.