Inheritance With Bankruptcy
I've decided to declare bankruptcy. There is one small problem. My father died last year and I stand to inherit about $10k. I know that six months prior and after filing a bankruptcy they can seize this money. Is there any way around this? I can't keep up with my bills now (lost my job and the replacement job pays about $12k less per year). I can't really wait over 6 months after I receive it (I should be getting it in September or October). I'm already over three months behind on my bills now. I really want to hang on to that money because it's the only way I'll ever be able to buy a house. Any suggestions?
Answer:
One option may be to disclaim your inheritance so that it is not part of the bankruptcy estate, and have the other heir(s) gift it to you, if they wish, after your discharge. Speak with your bankruptcy attorney for more details.
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