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Ask WALLSTREETESQ Your Own Question
Category: Bankruptcy Law
Satisfied Customers: 17223
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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we have been in chapter 13 for two years and two moths of a

Resolved Question:

we have been in chapter 13 for two years and two moths of a three year plan my wife has received money from the death of her father how much can the trustee take .thank you
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 7 years ago.
you must willingly report an inheritance after bankruptcy to the trustee as part of the estate. In addition to liquidating debtor estates to pay creditors, trustees are charged with the responsibility of locating all disposable income and assets. Inherited assets are distributed.   In a Chapter 13, (before or after the 180 days) an inheritance will be used to calculate how much you should pay creditors.

In your case if the amount is fairly large than the trustee may pay of the remaining of the plan or he may used the entire amount to pay more than the plan included, usually it is up to the trustee, under the law they should pay off your creditors

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