How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
Type Your Bankruptcy Law Question Here...
Ellen is online now
A new question is answered every 9 seconds

Upon surrendering an inheritance received within the 180 day

This answer was rated:

Upon surrendering an inheritance received within the 180 day window following a Chapter 7 discharge are both unsecured and secured creditors paid and is any remaining funds returned to the debtor?

The funds received by the Chapter 7 trustee, will pay the creditors on a pro rata basis. Since your mortgage is up to date and secured, it would typically not share in the distribution. Any excess funds would be paid to you after trustee fees and costs.

Under some circumstances a beneficiary/debtor may be able to disclaim an inheritance. In such an instance, the inheritance would pass to the contingent beneficiary as if you had predeceased. You may want to consider investigating this possible alternative with local counsel.
Ellen and other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions