More details to this question:
My brother filed for bankruptcy 5 years ago. Our father just passed away and he should be received money from a life insurance policy. Will he have to tell his lawyer about the inheritance? Will he be able to keep the money?
thank you,
1 ANSWER
Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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The inheritance is only property of the bankruptcy estate if your brother became entitled to it within 180 days after his case was filed. However, if he filed a Chapter 13 or Chapter 11 case and it is still pending, then the additional income may need to be turned over to the Trustee. You need to consult with a bankruptcy attorney in your area about that.
Mark J. Markus, Attorney at Law
Handling exclusively bankruptcy law cases in California since 1991.
http://www.bklaw.com/
bankruptcy blog: http://bklaw.com/bankruptcy-blog/
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Answered on Jan 09th, 2012 at 7:05 PM