What do I need to know re: NY bankruptcy laws-concerning pending inheritance monies which are likely years away from determining.
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What do I need to know re: NY bankruptcy laws-concerning pending inheritance monies which are likely years away from determining.
Seeking info for my brother, who has 18,000 in credit debt due to extreme hardship situation. He is bipolar, has severe emotional, mental and physical handicaps, disabled. Needs free lawyer. Mother’s estate won’t be settled for years. He definitely needs the bankruptcy, not debt consolidation. He will desparately need that inheritance (will be a living trust/monthly checks)- in order to survive. Needs a clean slate. Our lawyer said doing bankruptcy could be harmful, and creditor would come after the inheritance -even after bankruptcy is completed, yrs later. Can they do this? JS
Asked on May 29, 2009 under Bankruptcy Law, New York
Answers:
David Hamilton / Dwyer & Associates
Answered 14 years ago | Contributor
It is legally possible that would happen, but I would imagine that it is unlikely in practice given the relatively small amounts involved. It is more likely someone who knows your brother would pursue this course of action when they know he comes into the money, however you should take into account all possibilities.
NY County Lawyers Association, Brooklyn Lawyers Association and The New York City Bar Assocation all handle pro bono bankruptcies, however they do not progress as quickly as regular cases.
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