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    parents inheriting money

    My parents will inherit some money, not chump change, but some real money. I'm not the direct beneficiary, however, my parents are. They have implied, not promised or guaranteed (certainly not in writing) , that they will gift me some of this. Just curious if that pseudo promise, if you can call it that, constitutes "an inheritance" according to the BK laws in this great land. Thoughts?
    To be blunt, this inheritance is only coming IF someone in particular passes away. They are very healthy, and they are NOT on their death bed, so this is purely hypothetical)

    #2
    You have not inherited anything, or became "entitled to received the proceeds" of the inheritance, until the event that would trigger such bequest actually happens. I wish your parents a longer and more prosperous life. You are merely a beneficiary based on a certain event occurring. The bankruptcy estate has no interest in that benefit, unless and until you become entitled to receive (or actually receive) the proceeds (before) or within 180 days of filing.

    So, if you were to file on January 1, 2018, the bankruptcy estate may be entitled to all or a portion of the any inheritance or bequest that happened before about June 30, 2018. If the triggering event happened on July 1, 2018, the bankruptcy estate would have no interest in that inheritance. If the triggering event happened on June 30, 2018, then the bankruptcy estate would have an interest in the inheritance.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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      #3
      It sounds like you are not a beneficiary at all. Even assuming this person dies within that 180 days, making your parents entitled to receive the inheritance, your parents' implication that they may give part of it to you does not create any obligation that can become part of the bankruptcy estate.
      LadyInTheRed is in the black!
      Filed Chap 13 April 2010. Discharged May 2015.
      $143,000 in debt discharged for $36,500, including attorneys fees. Money well spent!

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        #4
        thanks!

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