Question Inheritance

[AJR1]

Filed bankrupcy 3/11/2018 discharged 6/19/2018 - Relative passed and was left money what happens - It’s pas the 180 days - Please help

[Anonymous]

If its within 180 days you have to give it to court. If its past 180 days yours. I'd contact my attorney to double check though.

[pizza1]

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@AJR1 wrote:
Filed bankrupcy 3/11/2018 discharged 6/19/2018 - Relative passed and was left money what happens - It’s pas the 180 days - Please help

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Did you know that you were going to be left any money, or did you know about the impending death? They should have asked you that question in your 341 MOC if you know of any possible inheritance due to you.

 When did the person pass away (and my condolences)? If they passed away within the 180 days post DC date, then you have to report it. Not, "I just found out I was left money". But if they passed during the 180 days, and you're just now finding out they left you money, it has to be reported. I would let your attorney know if that the case, and refer to his or her  expertise. 

[despritfreya]

I am not sure what pizza1 meant. . .

"If they passed away within the 180 days post DC date, then you have to report it. Not, "I just found out I was left money". But if they passed during the 180 days, and you're just now finding out they left you money, it has to be reported."

11 U.S.C. § 541(a) of the Bankruptcy Code states:

". . . (Property of the) estate is comprised of all the following property. . .

(5) Any interest in property that would have been property of the estate if such interest had been an interest of the debtor on the date of the filing of the petition, and that the debtor acquires or becomes entitled to acquire within 180 days after such date—
(A) by bequest, devise, or inheritance;. . ." (Emphasis added.)

Bottom line, if the person died within 180 days after the date the case was filed (not discharged), the inheritance is an asset and, unless exempt, belongs to the Trustee.

Des.

[AJR1]

Relative passed Jan 12 - Date of filing 3/1/2018 - Date of Discharge 6/22/2018

[Lurker22]

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@AJR1 wrote:

Relative passed Jan 12 - Date of filing 3/1/2018 - Date of Discharge 6/22/2018

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1/12/18? - then you owe it to the Trustee (even if you didn't know you were going to obtain an inheritance) 

1/12/19? - and you didn't know of the impending passing?  Then it's yours

1/12/19? and you KNEW of the impending passing? I'd contact your attorney - trustee could go after it 

[Anonymous]

Date passed away... January 2019? If so, you dont need to worry about it is yours.

[AJR1]

Sorry typo 1/12/2019 he passed - Didnt know

[despritfreya]

Date of filing 3/1/2018 . . . Relative passed Jan 12 (2019)

You became entitled to the inheritance on 1/12/19.  Your entitlement is more than 180 days after the petition date of 3/1/18 ergo the inheritance, for Chapter 7 purposes, is not property of the bk estate.

Des.

[despritfreya]

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@Lurker22 wrote:
1/12/19? and you KNEW of the impending passing? I'd contact your attorney - trustee could go after it 

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There is nothing the the bk Code that supports the above (although checking with with OP's attny is a good idea). 

OP filed a Chapter 7 and the relative passed more than 6 months post filing. 11 USC 541(a)(5) controls if the right to the inheritance is property of the bk estate. 

Des.