If I’m going to file Chapter 7, is there any way to save my inheritance?

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If I’m going to file Chapter 7, is there any way to save my inheritance?

My parents have a living Trust my father has passed on and my mother is not doing well. I have been through a devastating divorce that has left me in a financial mess with huge debt.

Asked on May 19, 2014 under Estate Planning, Arizona

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Under federal bankruptcy law, your inheritance would not at all be impacted on a Chapter 7 bankruptcy filing. Before you file, I suggest that you consult with a bankruptcy attorney in your locality. One can be found on attorneypages.com to assist you in making any decision to file or not.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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