What to do about bnkruptcy and an inheritance?

UPDATED: Nov 15, 2012

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What to do about bnkruptcy and an inheritance?

My grandmother took out a home equity loan and loaned it to my uncle. He declared bankruptcy, listing her as a creditor. She passed away shortly thereafter. Her will (written before my uncle’s bankruptcy) states that my uncle is to subtract any remaining debt from his 50% share of her estate, or to make payments to me if the debt should exceed his share. Is he still liable to the estate for that debt?

Asked on November 15, 2012 under Estate Planning, New Jersey


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Under the laws of all states in this country a Will speaks at the death of the person who write it. From what you have written since your uncle filed for bankruptcy protection before the death of the grandmother, he would be obligated to get what he owes debited from his inheritance.

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