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    slim4x45's Avatar
    slim4x45 Posts: 1, Reputation: 1
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    #1

    May 22, 2008, 07:03 AM
    Bankruptcy and inheratence
    I am having to claim personal bankruptcy. I am also going to get a small inheritance. Should I wait until I get the inheritance before going bankrupt, and what happens if I get the inheritance after I am discharged. I am not sure if I should claim now or wait.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    May 22, 2008, 07:34 AM
    Quote Originally Posted by slim4x45
    I am having to claim personal bankruptcy. I am also going to get a small inheritance. Should I wait until I get the inheritance before going bankrupt, and what happens if I get the inheritance after I am discharged. I am not sure if I should claim now or wait.

    If you collect the money and then file in bankruptcy it becomes part of your bankruptcy estate, part of the process. An inheritance is not exempt.

    The Petition does ask if you are going to be receiving funds from any source so you would have to list this.

    I would doublecheck with your Bankruptcy Attorney to make certain you are not committing fraud, whatever you do.
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