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Can an inheritance be taken by the courts or creditors if the will has not been executed and most likely will not be until after filing for Chapter 7?
Wiki User
∙ 8y ago
Some received before the discharge are collectable by the trustee. Whether an inheritance can be included depends on the the type of BK (Federal or State) and the laws that are applicable. If however, the BK has been discharged, no monies are subject to seizure by the truste/court.
I'm a little confused by the answer above. There is no such thing as "State bankruptcy," though there are state receiverships which are similar but rare. The only bankruptcy that exists in the U.S. is federal bankruptcy, which is codified in Title 11 of the U.S. Code (though State law does affect the federal bankruptcy laws in each State to a certain extent). It is also not true that once the bankruptcy has been discharged the court can't come after inheritance proceeds. If the inheritance occurs within 180 days after the discharge, the court can still come after the money (see 11 U.S.C. 541 (a)(5)). If the inheritance occurs before or during the case, the debtor has an obligation to notify the court by listing the inheritance on their Schedule B, and the court can then go after the money assuming the State in which the bankruptcy is pending does not allow the debtor to exempt that type of property. Also, actual receipt of the inheritance funds is not necessary, a debtor has to list the inheritance if the debtor knows it is coming even if the debtor hasn't actually received it yet. In some states, one can "disclaim" an inheritance, which means the person can say they don't want it, and the inheritance is protected from the bankruptcy court, but this is complicated and rule-specific and one definitely needs to consult with their attorney about this. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
Wiki User
∙ 8y ago
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Scheduled to be discharged without payment 185109 What does this mean in Bankruptcy chapter 7 and can creditors collect?
You need to read whatever you got from the court more carefully. "185109" is meaningless in federal bankruptcy. Courts do not usually "schedule" a case to be discharged." You may have received a letter from your lawyer saying that was the expected discharge date. If you receive your discharge, that is the end of any collection actions by any creditors.
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