How Are My Children’s Bank Accounts Affected by My Bankruptcy?

Children cannot open bank accounts by themselves, so the question really becomes, “Are these bank accounts my assets?” and the answer is no. Your children’s bank accounts are your children’s assets, even if you’re name is on the account as custodian. However, you must disclose the existence of these accounts during your bankruptcy and you’ll very likely have to supply information on them, such as an account history and balances.