Thanks for all the advice. I've done a little more research and under the old law it looks like a trustee can take any "windfall" ie lottery, inheritance etc. up to a year after a case is closed. Under the 180 day thing I think I would be fine but the situation just gets cloudier. The majority of the inheritance is in a cd that will mature next month and be paid out to my wife and her brother and sister. I am assuming that when the bank distributes this money they will have to report it to the irs which is where i will assume the trustee could find out about it. I guess it's time to consult with my attorney
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Originally posted by scammerWow, I must have not been paying attention, maybe someone told me and I forgot. So my special trust really just is needed to protect those first 180 days??
Still glad I did it, foolish thing to gamble over, if it involves a large inheritence. I just thought I was to leave it in force several year. I am still going to leave it on till my case is actually closed. I am going to sometime dig for the example of the trustee going over an inheritence, I will post the case #Filed Ch 7 - 09/06
Discharged - 12/2006
Officially Declared No Asset - 03/2007
Closed - 04/2007
I am not an attorney. My comments are based on personal experience and research. Always consult an attorney in your area to address concerns related to your particular situation.
Another good thing about being poor is that when you are seventy your children will not have declared you legally insane in order to gain control of your estate. - Woody Allen...
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