Comments on: inheritance and bankruptcy/proposal http://www.bankruptcy-edmonton.com/bankruptcy/2008/11/inheritance-and-bankruptcyproposal.html Bankruptcy Edmonton Tue, 07 Feb 2012 15:47:45 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Barton Goth, Trustee in Bankruptcy http://www.bankruptcy-edmonton.com/bankruptcy/2008/11/inheritance-and-bankruptcyproposal.html/comment-page-1#comment-308 Barton Goth, Trustee in Bankruptcy Mon, 15 Dec 2008 23:16:41 +0000 http://www.bankruptcy-edmonton.com/bankruptcy/2008/11/inheritance-and-bankruptcyproposal.html#comment-308 If you receive an inheritance while you are in a bankruptcy you loose those funds. The money should be paid directly into the trustee's office and will ultimately be distributed among the creditors. Failure to provide these funds will result in you not be discharged from bankruptcy and not being cleared from your debts. If you file a proposal this changes as the monies are not immediately lost. However, if you know you are going to receive those monies and it is certain they will be coming to you in a short time, this is a something that must be disclosed and factored into the proposal itself. If you fail to disclose this the proposal would be based on fraudulent information and therefore would be invalid. If you receive an inheritance while you are in a bankruptcy you loose those funds. The money should be paid directly into the trustee’s office and will ultimately be distributed among the creditors. Failure to provide these funds will result in you not be discharged from bankruptcy and not being cleared from your debts.

If you file a proposal this changes as the monies are not immediately lost. However, if you know you are going to receive those monies and it is certain they will be coming to you in a short time, this is a something that must be disclosed and factored into the proposal itself. If you fail to disclose this the proposal would be based on fraudulent information and therefore would be invalid.

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