If I inherit money after my bankruptcy, can I keep it?

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I need to file a Chapter 7 bankruptcy. My father is elderly and quite ill. If he dies after my bankruptcy and I inherit money from that, can I keep it?

In general, when a person files bankruptcy, his or her "bankruptcy estate", the assets that would go to creditors unless "exempted", is determined at the time the bankruptcy is filed. The important exception to that is if the person gets money or property because of someone dying within 180 days after the bankruptcy filing.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Malcolm Ruthven | Attorney Advertising

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