This is a gruesome but real question. If you receive an inheritance, buy a house with it, and 6 months to 1 year later file bankruptcy, is there ever any problem. If you file bankruptcy and then get an inheritance 1 year later, any issue. Not that I expect anyone to pass away but I have two very elderly and not well parents and would never want to see inherited money go to those credit card collection agency vultures.
-
-
A Trustee can go back 1 year before filing bankrutpcy and forward 1 year after the closing of your bankrutpcy in search of inheritances........
If you are going to file, know you may inheirt in the near future, I think you can have a Trust fund set up for all of it to go into..... for at least a year or 18 months after the inheritance is inherited....
You really need to discuss this with a BK attorney and let them give you all the options available to you to help protect this asset if it should come to you during your bankruptcy.......
Keep us postedMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.
Comment