QUESTION

7th child of deceased, no will, estate in probate

Asked on Oct 27th, 2012 on Bankruptcy - Tennessee
More details to this question:
father passed 2010, estate in probate, oldest brother named administrator, I filed bankruptcy in dec of 2011. Did I lose my inheritance that was to come? Can trustee use that interest against my debt if I have not been given access to the inheritance yet?
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1 ANSWER

Bankruptcy Attorney serving Burbank, CA
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It's impossible to answer your question with the facts you have provided.  Which bankruptcy chapter did you file?  Was the inheritance listed as an asset on Schedule "B" of your petition?  Did you exempt the expected proceeds on Schedule "C"?  Is your bankruptcy case still open? Without at least the above information there's no way to tell whether your interest was "lost". Clearly the inheritance was an asset of your bankruptcy estate and should have been listed (even if for an unknown value) in your bankruptcy papers and, to the extent possible, exempted under applicable law.  The fact you don't have access to the inheritance yet is completely irrelevant.  If you filed a Chapter 7, and did not list and exempt the inheritance, then it belongs to your  Trustee.   However, if you listed it and the Trustee determined it was of in sufficient value to administer, then he/she may have closed your case and abandoned (given) the inheritance rights back to you once your case was closed. My suggestion is that you consult with a bankruptcy attorney in your area (assuming you don't already have one) so that you can provide the necessary information to obtain the answer you need. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  
Answered on Oct 28th, 2012 at 2:13 PM

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