QUESTION

If I am filing for bankruptcy, will I lose any inheritance to creditors?

Asked on Sep 22nd, 2014 on Estate Planning - Arizona
More details to this question:
My parents have a living trust. My father has died and my mother is not doing well. I am one of four children and we will split everything they have left to us, which is mostly real property. My sister and I have both been mowed over with the economy, divorce, medical bills, etc. We are both in the middle of filing bankruptcy. If my mother should pass, will we lose our inheritance to creditors or is the IRS the only entity that has that power? I don't think we will make the bankruptcy in enough time for it to help us otherwise. Truly we are barely getting by as it is.
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1 ANSWER

Divorce Attorney serving Phoenix, AZ at Heller Law Office, PLC
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You should seek a consult with an experienced bankruptcy attorney, as there are many variables here that could come into play.
Answered on Sep 23rd, 2014 at 8:17 PM

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