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  1. #1
    Join Date
    Feb 2020
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    1

    Default Bankruptcy and Inheritance

    My question involves bankruptcy in the state of: PA

    Dad died in 2012, leaving the estates in MA & NY to my 2 subs and me. NY is distributed but not closed, MA has not been filed in probate, includes house, personal property and 2 older vehicles.

    I am currently renting and plan to live in MA house after probate. All household income is SSDI and pension and have to file bankruptcy due to mostly medical bills past and future. No assets or cash but ordinary household and older paid-for car.

    How do deal with my portion of MA estate. Nothing has been filed in Court so everything is still in dadís name

  2. #2
    Join Date
    Oct 2014
    Posts
    7,715

    Default Re: Bankruptcy and Inheritance

    Quote Quoting Gkkohfej
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    My question involves bankruptcy in the state of: PA

    Dad died in 2012, leaving the estates in MA & NY to my 2 subs and me. NY is distributed but not closed, MA has not been filed in probate, includes house, personal property and 2 older vehicles.

    I am currently renting and plan to live in MA house after probate. All household income is SSDI and pension and have to file bankruptcy due to mostly medical bills past and future. No assets or cash but ordinary household and older paid-for car.

    How do deal with my portion of MA estate. Nothing has been filed in Court so everything is still in dad’s name
    I suggest you meet with one or more bankruptcy attorneys to figure out what impact your bankruptcy will have on your inheritance. Most should give you a free initial consultation. Your share of the estate is an asset you will need to disclose on your bankruptcy schedules, but you may be able to protect some or all of it by applying various bankruptcy exemptions. The timing of events may make a difference, too, in how it plays out. Since you haven't filed the bankruptcy petition and have not yet actually received your share of the estate, you have some control over the timing of things.

  3. #3
    Join Date
    Jul 2018
    Posts
    2,069

    Default Re: Bankruptcy and Inheritance

    Quote Quoting Gkkohfej
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    Dad died in 2012, leaving the estates in MA & NY to my 2 subs and me.
    Subs?

    Also, given your statement that "MA has not been filed in probate," what does your reference to "estates in MA & NY" mean? I'm guessing that he lived in NY, so his estate was probated in NY. I'm further guessing that he owned real property in MA. I'm not sure why you're lumping "personal property[] and 2 older vehicles" in there. Personal property (including cars) could and should have been included in the NY probate proceeding. The only reason to open an ancillary proceeding in MA would be for the real property located there.


    Quote Quoting Gkkohfej
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    I am currently renting and plan to live in MA house after probate.
    To whom are you paying rent? Have your "subs" agreed that you may continue to live in this property?


    Quote Quoting Gkkohfej
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    All household income is SSDI and pension and have to file bankruptcy due to mostly medical bills past and future. No assets or cash but ordinary household and older paid-for car.

    How do deal with my portion of MA estate
    I don't really understand the question. Everything that you have inherited or stand to inherit from your father's estate is an asset that must be disclosed in a bankruptcy filing. You need to discuss this with your bankruptcy attorney, and you should also retain a probate attorney to handle the estate proceedings (and may need one in NY and another in MA).

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