Will my Inheritance Become Part of the Bankruptcy Estate?

Possibly.  The Federal Bankruptcy code mandates that inheritances received within 180 days of a bankruptcy petition being filed are included in the bankruptcy estate.  This equates to roughly 6 months prior to or after a bankruptcy filing.

In a Chapter 7 proceeding a trustee can seize all or part of an inheritance.  Conversely, in a 13, while the assets or money will not be seized, it could be included in the estate and the monthly payments would be adjusted accordingly.

An inheritance is a gift to you from a loved one.  Contact an experienced attorney at the Fears | Nachawati Law Firm to assist you during this time.