QUESTION

My husband and I filed for bankruptcy in September of 1999. What happens if we inherit money from a relative who passed away?

Asked on Dec 22nd, 1999 on Bankruptcy - Kansas
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My husband and I filed for bankruptcy in September of 1999. What happens if we inherit money from a relative who passed away?
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1 ANSWER

It depends on when the relative passed away.  If it was prior to the filing of the bankruptcy petition, then the inheritance becomes part of the bankruptcy estate.  If you inherit the property during the bankruptcy proceedings the inheritance may or may not be incorporated in the bankruptcy estate.  If you were to inherit the property after the bankruptcy case, the inheritance likely would not be incorporated in the bankruptcy estate except in a very few instances.  You should contact your bankruptcy attorney to determine how to proceed. This is not intended to be legal advice, and is general in its nature. No attorney-client relationship exists or is formed by this information. Furthermore, this does not represent the views or opinions of LexisNexis or its affiliated companies.
Answered on Jun 25th, 2012 at 1:59 PM

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