Need to wait 6 months?

[Nextgen]

Hello, lots of good information here, wow!

So here is my situation, I am far above median income in my state but my income has been reduced by 50%, I just can't ever see digging out.

I have taken the online means test and look to qualify under despite my income. The big question, I received 40k in September from liquadation of my deceased fathers estate. I (like a fool) used the money to pay down/settle debt but still could not dig out.

My question,
Does that money get calculated into my monthly income as 40k/12 equaling an additional 3.333.00 a month in income that does not exist?

Do I now need to let that income age to 6 months?

Thanks in advance,

Gen..

[Help!]

Yes, and yes. We emptied out a 401K and did the same. Our attorney told us it wouldn't count against us as income and that we passed the means test. Our case was nearly dismissed, and the only way we were able to get our Ch. 7 through was to give up assets equivalent to that amount. Filing immediately after a big decrease in income when you're an above median case puts you at a huge disadvantage. You're penalized for income you no longer have!

[Nextgen]

When does the clock start on income from the property.

When I received the property

OR

When I sold the property that I had received?

[Help!]

If the money you received from your father's estate was from the sale of property in which you had an interest (e.g., you were on the title), that's a longer wait than 6 months from the date you received the proceeds from the sale. In our district, the case trustee looked into sale of assets in the two years prior to filing.

[Nextgen]

My brother was trustee of his estate, liquidated the estate by selling and then distributed the funds to me, where does that fall?

I was never on the title.

I am looking at this from the perspective of the means test and income, should I be looking at it another way?