A mess...a will, divorced parents, declined inheritance and my BK. need advice

[LadyInTheRed]

Sure. . . I'll write you that check today but you can be sure it will go bouncy, bouncy tomorrow. How many zeros was that?????

Des.

LOL! I guess it might as well be 7 zeros.

[tobee43]

This is wonderful. Look at all of the input. A unique situation calls for many responses on all levels. I thank this board for making this thread interesting and showing that its members 1) do care and 2) have a combined intelligence that would put an MIT think-tank to shame.

Oh, and JB, I am not more qualified to answer this thread than anyone here who has tried. I have never had a case with this issue and I know squat about probate.

I still think the entire thing turns on when Icy's rights to any of the estate materializes. That would be based upon state law. My gut tells me that such a right springs into existence if and when mom renounces as, until that time, Icy has no claim to anything.

Tb, I think that an intestate decedent is a bit different. If one dies intestate the rights of the heirs materialize on the date of death, just like a beneficiary of a will. The distribution will be based upon state intestate law which, as far as I know, is just a statutory succession to the division of property. As such a Trustee in bk would step into the shoes of the debtor if the death occurred within the 180 days no matter how long it takes for the state to finalize the distribution. The Trustee would have the right to take whatever the debtor could have taken. Hope that made sense and somehow addressed your question.

Icy does need to consult both with his bk attny and a probate attny. However, as JB pointed out, if what would not be exempt is not major dollars, it probably does not pay to try to fight the issue. And, as HHM pointed out, a Trustee, no matter what, will look at this.

Des.

thanks des for the clarification. i'll be awaiting what is going to happen as a result of this situation, it indeed, is interesting.

yes, i think lady's done it again LOL!! back to the hands of the trustee it goes. (lady you sure deserved your raise ).

[Icyshades]

I am thoroughly impressed with all this information. My mom and one of my siblings are meeting with the estate attorney later this week. After I know more, I will contact my BK attorney.

Today I got more info, so it's getting more interesting by the minute. It sounds like my dad's only real asset is a CD for $15k, and that they are using some or most of those funds in taking to the estate attorney. Also, the atty was the same person who did my paternal grandmother's estate. She died 2 years ago, and my dad lived in her home until his death. I always thought he paid rent to his siblings, but just found out that they had agreed to take a token amount of $400 a month for rent/utilities. Since his passing, the siblings have decided to sell the home to one of the sibling's children (my cousin), contingent on the sale of his current home. Soooo, now there is property involved too. I would be surprised if the house could sell for $150,000. If it did, after fees, my dad's share would be maybe $22k, minus $9K or so in rent, then that would get divided out 50%/mom, then to sibs, so not much in the end.

When it does get to the point of the trustee working with this, what happens? Does s/he just work with the estate attorney? Is there something I can/must negotiate with the trustee? My extended family is so secretive. I would hate to have to reopen my case and be stressed all over again, if more missing pieces come to light. My mind is swirling, and right now, I'm wishing my mom would just accept whatever extra tax burden and not bring me into the mix. After all, every dollar she ges is something she wouldn't have otherwise had.

[justbroke]

Very nice find Lady. Indeed answers a bunch of questions of state-law and what would constitute the date was created and the debtor was "entitled" to the proceeds. At least, as you wrote, the Trustee could have "fun" with this.