Re:inheritance and bankruptcy (1 viewing) (1) Guest
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TOPIC: Re:inheritance and bankruptcy
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Jacob (User)
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inheritance and bankruptcy 2 Years, 2 Months ago
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I have a client who is filing bankruptcy with another attorney. I am assisting the client with the sale of her house and some of her own estate planning. If the client inherited property from a family member, how would the bankruptcy court treat the inheritance? I'm it getting a solid answer from the bankruptcy attorney.
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Re:inheritance and bankruptcy 2 Years, 2 Months ago
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It is my understanding that if you receive an inheritance within 180 days (6 mos.) after filing for bankruptcy, that money/property may have to be paid to your creditors if not exempt.
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Jacob (User)
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Re:inheritance and bankruptcy 2 Years, 2 Months ago
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Ok, then i need to plan on when we can accept the inheritance. I appreciate your response.
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tbm1231 (User)
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Re:inheritance and bankruptcy 2 Years, 1 Month ago
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I just caught this thread.
What would happen if your client disclaimed the inheritance? Would the assets go to the client's family? If so, then consider disclaiming the inheritance. That way you would avoid creditor claims and the client's family would still get the property.
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Re:inheritance and bankruptcy 2 Years, 1 Month ago
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Disclaiming is an option as long as he has not already taken possession or control over the assets.
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Re:inheritance and bankruptcy 1 Year, 6 Months ago
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Bankruptcy is a serious issue whether related to business or personal, in both the cases it needs proper guidance and counselling. get complete information from bankrutcy lawyers. |
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