Need your opinions...

[bige1030]

It would be the same if your partner had filed a Ch 7 and received the funds within the 180 day window post filing. Again, the monies could be taken for the benefit of the Debtor/Filer's Creditors.

[SinkingFast]

(A) by bequest, devise, or inheritance;

BKBiker, a Member and past Poster here was a Ch 13 filer. His brother died and BKBiker was the heir to his Brother's estate. The Trustee took BKBiker's inheritance. Didn't even leave BKBiker enough money to bury his brother.

I don't see how "by bequest or devise" wouldn't encompass a sizable Cash Gift. Wouldn't a Cash Gift be a "bequest"??!!

[happycarl]

How unless it could be shown and proven that they were foreseeable at the time of filing?

For abuse to occur, there has to be intent and without prior knowledge there can be no intent.

Those monies would not become property of the estate automatically, of that I have no doubt and I don't think there would be even a very slight chance that a Bankruptcy Judge would rule them part of the estate.

His attorney and paralegal told us something very interesting, there ARE NO BANKRUPTCY POLICE OFFICERS.

For my partner's chapter 13 plan, which has been confirmed, we were told that was it in our District. Unless there was a SIGNIFICANT CHANGE in income, it was set for the life of the plan. He also said it would be up to us to initiate any changes. He specifically told us if we came into an amount of money that would pay the plan off early, he would contact the Chapter 13 Trustee and ask for an early payoff and tell him if it was declined, fine, we would bank the money or spend it.

We are just riding the months out till the plan is completed and living just fine.

[bige1030]

BKBiker, a Member and past Poster here was a Ch 13 filer. His brother died and BKBiker was the heir to his Brother's estate. The Trustee took BKBiker's inheritance. Didn't even leave BKBiker enough money to bury his brother.

I don't see how "by bequest or devise" wouldn't encompass a sizable Cash Gift. Wouldn't a Cash Gift be a "bequest"??!!

[SinkingFast]

That has actually happened. The links are in the thread I linked below. I believe it was a Ch 7 Filer who won the Lottery shortly after his 341 Meeting. If I remember correctly, the Court dismissed his BK as with his new found wealth he could more than easily pay his debts he was seeking to have discharged.

http://www.bankruptcyforum.com/showt...ht=lottery+win

Since a winning lottery ticket isn't an inheritance or a bequest, it must be considered a devise.

[fellowpoorman]

You know going thru bk is stressful enough, I worried about every little thing all along the way and it was all for nothing, you'll be fine, don't sweat it, you can't pay your bills, you are bankrupt right. Just don't have more than that amount in the bank , you don't have it anyway right.

[annamollie]

You know going thru bk is stressful enough, I worried about every little thing all along the way and it was all for nothing, you'll be fine, don't sweat it, you can't pay your bills, you are bankrupt right. Just don't have more than that amount in the bank , you don't have it anyway right.

You are correct. I don't have it anyway. I should stop worrying.

But before I do that (lol)... After reading all of these recent posts, I just thought of something else to ask...

My husband is disabled and on workmans comp. What if he decides to settle with them before I'm discharged? My attorney says the money will be exempt because it is considered living expenses. Anyone have any experience or knowledge with this?

[NYCountry]

My checking account can vary by $1,000. I am on Social Security Disability so I get a check once a month. I pay most of my bills then but some of them take three weeks to go through and then there are the everyday groceries, etc. One day I can have $1,000 and the next I can have $1 so I am not worried about going to my 341.

[Spartan]

You are correct. I don't have it anyway. I should stop worrying.

But before I do that (lol)... After reading all of these recent posts, I just thought of something else to ask...

My husband is disabled and on workmans comp. What if he decides to settle with them before I'm discharged? My attorney says the money will be exempt because it is considered living expenses. Anyone have any experience or knowledge with this?

Work comp is typically exempted in most states, AFAIK.

[Spartan]

To the original post....

I would think, the bigger problem would be if he understated the amount of money he has at the bank.... That would be hidding asset....

[bige1030]

That has actually happened. The links are in the thread I linked below. I believe it was a Ch 7 Filer who won the Lottery shortly after his 341 Meeting. If I remember correctly, the Court dismissed his BK as with his new found wealth he could more than easily pay his debts he was seeking to have discharged.

http://www.bankruptcyforum.com/showt...ht=lottery+win

Since a winning lottery ticket isn't an inheritance or a bequest, it must be considered a devise.

I don't think it's considered a devise. Devises are property of the estate, and from the way that things played out in this case, the post-petition lotto winnings were not part of the estate. If I'm wrong, and they had been part of the estate...well...a case trustee ought to be very mad at the U.S. Trustee for getting that case dismissed because s/he missed out on thousands of dollars of compensation for distributing those assets (which would have given all creditors in the case full payment and the debtor a useless discharge that only keeps him from getting another discharge for 8 years now).

[bige1030]

How unless it could be shown and proven that they were foreseeable at the time of filing?

For abuse to occur, there has to be intent and without prior knowledge there can be no intent.

[annamollie]

My checking account can vary by $1,000. One day I can have $1,000 and the next I can have $1 so I am not worried about going to my 341.

That's true for us too. I just thought the amount should've been accurate for filing day. I'm not worried about it anymore. My bank statements show everything the trustee needs to know.

[annamollie]

Work comp is typically exempted in most states, AFAIK.

It's exempted here in MI. I just thought it was odd to be able to receive such a large amount of money...if you know what I mean.

To the original post....

I would think, the bigger problem would be if he understated the amount of money he has at the bank.... That would be hidding asset....

I hadn't thought of it that way. So true. Thanks.

Btw, it's not that I don't trust my lawyer... He's better than all the others I spoke with. I just need to cover my bases. It's my butt on the line. Not his.

[SinkingFast]

It's exempted here in MI. I just thought it was odd to be able to receive such a large amount of money...if you know what I mean.



I hadn't thought of it that way. So true. Thanks.

Btw, it's not that I don't trust my lawyer... He's better than all the others I spoke with. I just need to cover my bases. It's my butt on the line. Not his.

That is soooooooo true!! And attnys don't always take the time to explain things fully to us. Things they do every day as a normal course of business are generally once in a lifetime occurances for us.