My spouse may have to file bankruptcy.
He has been expecting a small inheritance for a long time and there is no way of knowing when or if it is going to come. So here is my question, let us say he files bankruptcy and the inheritance is then happens, how will it be treated? Does it make a difference if it before the date he files a bankruptcy. What if he receives it after he is discharged, how will it be treated then?
Inheritance and bankruptcy
posted by Questions @
1 Expert Comment:
At May 8, 2008 |
7:28 am
, Barton Goth GCO Bankruptcy Trustees Said...
If the inheritance comes during bankruptcy, or whatever event is necessary for it to be know the inheritance is guaranteed (i.e. relative dies), then the trustee must be informed and the inheritance is lost. However if the event that makes the inheritance become certain is after you are discharged from bankrutpcy then there is nothing lost as we don’t know when or if the inheritance will become available.
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