Inheritance Question

[CAB_44]

Okay here's a question~
When we went in for our meeting with our attorney, she asked if either of us are scheduled to inheritance money~ well....we both said "no"....
but I got to thinkin'......I know that I will probably receive something, not sure of an exact $ amount, when my mother dies.....she is in ok health, but of course, we do not know when.....any of us.....but if she passes within the next 5 years....
I am the executor of her will, so what does that mean to me if she passes before all of our BK is over...... I have NOT told her about the BK as of this moment.....and I really do not plan to..... anyone???????

[wenderful]

I could be wrong, but I think when they ask if you are expecting an inheritance, they mean is there one pending, i.e. somebody has already died and the inheritance is imminent.

I don't think the BK court is gonna sit and wait for your mom to die to try and get some money!

???

[FraggleRock]

You don't budget on dead people. She is not dead(as of now) so there is nothing in probate or pending from the insurance company.

I assume you are in 13, you would just report the final amount you would recieve to the trustee. From there I'm not sure what would happen.

[wenderful]

oops, my response might not make sense......you're in a Chapter 13? I always forget that part -- mine was a 7 so that is where my mindset is.

Sorry.

[CAB_44]

LOL Wenderful...
no, I know they aren't....but, it worries me that they would take away any type of monies that I received....would they do that??
Thanks~ !!
Yes....we are almost certain it will be a 13......

[wenderful]

if you're in a 13, I believe they can -- but I shouldn't have jumped in to this thread as I was Old Law, Chapter 7...........so I have no idea what I'm talking about and just shot off my big mouth (or fingers) before thinking.

Sorry!

LOL Wenderful...
no, I know they aren't....but, it worries me that they would take away any type of monies that I received....would they do that??
Thanks~ !!

[CAB_44]

no!...no!......fraggle.....maybe I didn't ask the question right.....
I know they don't do that......
I'm NOT waiting on her to die either... that's awful......please don't think that's what I was focusing on.....but I just don't want to think that any inheritance that I receive would be sent into the creditors...that's just awful.........
True is...I really don't know that she will make it another 5 years.....

[CAB_44]

no worries Wend.....
I enjoy reading what you have to say......!!!!!!
it's okay girlfriend....!!!!!!!

[wenderful]

Thanks Sometimes I speak (or type) before I think -- gets me in hot water too! giggle

[FraggleRock]

OK, re-read. I have no idea what would happen.

[Kam]

I think the answer is fairly obvious (course I am old school Ch7)....you are not anticipating anyone to die soon, so you can truthfully answer that you are not expecting any inheritance. You can tell your attorney that you are the administrator of your mother's estate, and that you are happy to report that your mother is in robust health. If events should change within the time frame of your chapter 13, then you would have to let your attorney and/or Trustee know about the changes. I do not know if the Trustee files a claim against your mother's estate before probate, or has to wait until any and all creditor claims (your mother's creditors) have been satisfied.

In any case, I don't think your Trustee is going to be ticking days off a calender in "hopeful anticipation," that's just....wrong, yanno?

Unless, you get Minny's Trustee, then that's another whole can of worms.

[CAB_44]

Well.....that must be why I am worried...
some of you guys (LOL) really seem to have gotten the trustee from HELL ....
I'm just scared that maybe that's what I'll get too....
My attorney seems to suggest that the trustee is on our side........ but I'm not so sure...I guess it just depends...... like someone else said...what side of the bed they got out of......etc. etc.....
I don't know.....guess I won't until I walk the line on that one........
thanks for the info though~ ALL of yous!!!!

[Bobby'sGirl]

In the worst case scenario...

...and Momma dies during your 5 years, since you are executor there are ways to make settlement of the estate drag out beyond your discharge. Any lawyer dealing with wills and trusts can give you advice if that should happen. I wouldn't even bother mentioning parent's health --- no money now, bottom line. I think we are all so scared of the trustees, we forget they and their staff just see us BKers as a file with a case number to be pulled out of the cabinet and "managed" on occasion. I doubt even in Minny's case her trustee has spy cams/taps set up on the telephone pole in front of her house...

[CAB_44]

dang.................. are you serious.....
they have spies and camera's???????
good grief~ who would've thought.....
okay~ that's really pathetic of them.......

[Bobby'sGirl]

Just a little paranoid...

...my son sent me a paperback on the government's doing psychic experiments and I bet the trustees would love to get in on some of those "remote viewing" experiments..LOL.

But I was executor of my father's and late husband's estates, and money can be set up to be distributed in ways the BK court can't reach, legally, and not "hidden" under a mattress.