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  1. #1
    Join Date
    May 2008
    Posts
    7

    Default How Does A Trustee Find Out If You Inherit Money?

    My question involves bankruptcy in the state of: Ohio.
    Hi ,
    i was wondering what my options are in a chapter 13 if I
    inherit money. I was also wondering if I do inherit any money
    how the trustee finds out that I inherited anything.
    I filed a chapter 13 about a year and half ago.
    Thank you

  2. #2
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: How Does A Trustee Find Out If You Inherit Money?

    You (or your lawyer) are supposed to tell the trustee of any money/asset received. You might get to keep it in some situations: You can keep your exempt property and anything you obtain after the bankruptcy is filed. However, if you receive an inheritance, a property settlement, or life insurance benefits within 180 days after filing for bankruptcy, that money or property may have to be paid to your creditors if the property or money is not exempt.

    You might want to mention your inheritance to your bankruptcy lawyer.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.

  3. #3
    Join Date
    May 2008
    Posts
    7

    Default Re: How Does A Trustee Find Out If You Inherit Money?

    Thank you for letting me know I was worried and didn't want to upset my chapter 13 bk. It is been over a year since I filed so that's a relief knowing
    I can inherit something. My bk chapter 13 will not be dismissed until 4 more years from now. Do you know how a trustee knows when you inherit anything?
    Thanks again

  4. #4
    Join Date
    Apr 2007
    Location
    Il.(near StL,Mo.)
    Posts
    5,252

    Default Re: How Does A Trustee Find Out If You Inherit Money?

    There's always a possibility they might not know/find out. However; if you don't tell them & they do find out, there could be a "problem" there for you due to hiding assets.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around.

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