Unexpected inheritance

[tobee43]

A letter of the trustee is not going to do any good in letting you keep the money. The trustee is discharging your debts, that money legally has to go to your creditors, if it cannot be exempted under you exemptions. The trustee also gets paid out of that money, so the trustee has no incentive to give the money away, but legally, the trustee is bound to distribute that money to creditors.

backtoschool is correct...however, this can ONLY happen after is clears probate and all debts cleared out of the estate.... but if you think there are no debts, it can get into the trustee's hands...and pass it around to the creditors...

i really hope for the sake of the OP that this can be turned around in one way or another...there are things that can be done. but hopefully the atty will step in and help out.

[dhmissouri]

Just got off the phone with my attorney...I have to admit that even though it sometimes takes a little while to get him to call me back, he's wonderful, and extremely helpful!

He's doing a little checking on state statutes, etc. but he believes that the money might be exempt. The life insurance company informed me that when/if they pay to the estate of my father that my name will also be listed on the check. In his opinion this would be paying the benefit directly to me and under Missouri statutes it appears that life insurance benefits paid directly to a beneficiary are completely exempt. If this is the case then there's nothing to worry about. If not, then we'll have to look at other options but for now, I'm pleased that he's checking into it and should have some answers no later than Monday!

[tobee43]

He's doing a little checking on state statutes, etc. but he believes that the money might be exempt.

i'm with him on this...for a number of reasons! i think it will clear probate and be exempt..that's my vote..(although i was wrong once before...LOL!!)