What to do if f I’m filing Chapter 13 and I just found out that I am entitled to money from a revocable trust of my deceased grandmother?
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What to do if f I’m filing Chapter 13 and I just found out that I am entitled to money from a revocable trust of my deceased grandmother?
What will happen to the money? Will I have to give all of the funds up?
Asked on August 3, 2012 under Bankruptcy Law, Arizona
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
You will not have to give up any portion of the money that you are entitled to receive from a revocable trust if you file for Chapter 13 bankruptcy protection. However, the amount that you receive may very well impact what debts you are able to discharge as well as the monthly payment plan that the court may order as to you concerning your submitted schedules.
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
You will not have to give up any portion of the money that you are entitled to receive from a revocable trust if you file for Chapter 13 bankruptcy protection. However, the amount that you receive may very well impact what debts you are able to discharge as well as the monthly payment plan that the court may order as to you concerning your submitted schedules.
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