Is a bond an exempt asset in bankruptcy? I have a bond in both my name & my daughter’s name. Do I lose that in Bankruptcy? I live in New Brunswick.
Yes, you would lose this in a bankruptcy because bonds are not exempt from seizure in a bankruptcy. However, It may be that the bond is 50% owned by your daughter, in which case only 50% on the bond belongs to the trustee.
You may be able to keep your portion of this asset in a consumer proposal.
Alternatively, you can elect to “buy” it back from the trustee.
Earl Sands, LIT