Posted on: 06th Jun, 2011 02:36 am
Hello there… I have a question. Due to severe financial hardship, I was forced to file bankruptcy about 4 months ago. I didn't have any way out. But 2 days back I got the information that one of my aunt is deceased and has left me some money. So, I will be inheriting that money. Will I have to give away this inheritance as I have filed bankruptcy? Also, can I disclaim my inheritance as I don't want it to go to the bankruptcy estate?
hi jenny,
if a person inherits money within 180 days of the date of filing bankruptcy, then he or she will become liable to give it back to the bankruptcy court. the money will become the part of the bankruptcy estate and it will be used to pay off the creditors. as you filed bankruptcy just 4 months back (around 120 days back), you'll be liable to give it back to the bankruptcy court. however, if you wish, you can disclaim your inheritance. it is not mandatory for you to accept an inheritance.
thanks,
jerry
if a person inherits money within 180 days of the date of filing bankruptcy, then he or she will become liable to give it back to the bankruptcy court. the money will become the part of the bankruptcy estate and it will be used to pay off the creditors. as you filed bankruptcy just 4 months back (around 120 days back), you'll be liable to give it back to the bankruptcy court. however, if you wish, you can disclaim your inheritance. it is not mandatory for you to accept an inheritance.
thanks,
jerry