Posted: April 14, 2020
When you file for Chapter 7 bankruptcy, all of your property becomes part of your bankruptcy estate. Immediately upon your filing, a Chapter 7 Trustee will be assigned to your case. It is the Trustee’s duty to investigate your assets and determine if the administration of those assets would create a benefit to your creditors. If the Trustee decides that the creditors would benefit from the administration of any of your property, the Trustee will seek to liquidate any non-exempt property. This will include any inheritance received within 180 days after you file bankruptcy. As such, the inheritance whether, money or property, will go to the Trustee and the Trustee will administer the non-exempt portion of the inheritance for the benefit of the creditors of your estate.
It is important to consult with and seek help from a seasoned bankruptcy attorney to review your particular circumstances, to explain your options, and to vigorously represent your legal interests should be at the top of your list. Kirschenbaum & Kirschenbaum, P.C. has an expert bankruptcy team with over 40 years of experience representing parties in the bankruptcy court. Not only do we have the knowledge, competence, ability and drive necessary to obtain the relief you need, but we also care, and will take those extra steps necessary to bring stability back to your life.
For assistance with all Bankruptcy matters, please contact us:
Ken Kirschenbaum, Esq. (516)-747-6700 Ext. 301 or
Stacy Spector, Esq. (516)-747-6700 Ext. 304 or