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Inheritance after discharge

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    Inheritance after discharge

    In California, filed Chapter 7 on 10/2009, discharged 02/2010, A close friend of mine passed away in early March. She has passed onto me half of her annuity which is estimated at $38K (this annuity is separate from her will, I was a named beneficiary on the annuity, not sure if this even matters). Here are some questions I have about this situation:

    1. Do I need to tell my lawyer or trustee about this?
    2. Can an annuity be part of an exemption, if so what is the max amount for this type of exemption?
    3. Are there any options for "protecting" these funds?

    Thanks
    Last edited by bankruptcy10; 03-31-2010, 10:13 PM.

    #2
    Originally posted by bankruptcy10 View Post
    In California, filed Chapter 7 on 10/2009, discharged 02/2010, A close friend of mine passed away in early March. She has passed onto me half of her annuity which is estimated at $38K (this annuity is separate from her will, I was a named beneficiary on the annuity, not sure if this even matters). Here are some questions I have about this situation:

    1. Do I need to tell my lawyer or trustee about this?
    2. Can an annuity be part of an exemption, if so what is the max amount for this type of exemption?
    3. Are there any options for "protecting" these funds?

    Thanks
    My understanding is that inheritances that you acquire or become entitled to within 180 days of filing, are property of the estate. The "estate" being the trustee to disperse to your creditors. If your friend passed away in early March and you filed in October that would be less than 180 days with my math.

    I would call your attorney. Give them the info and let them run the dates for you, as well as look in to exemptions that weren't used during your bk filing.
    Filed Chapter 13 02/2006 - Confirmed 05/2006 - Discharged 09/2011
    I'm not an attorney. My replies are merely suggestions or observations, not legal advice. As always, consult with an attorney before making any decisions.

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