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 WALLSTREETESQ Your Own Question

WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 15582
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
Type Your Bankruptcy Law Question Here...
WALLSTREETESQ is online now
A new question is answered every 9 seconds

Mother died in June 2013 while living in Indiana. She had

Customer Question

Mother died in June 2013 while living in Indiana. She had simple will that all proceeds get divided equally among 7 children. Two children live in Illinois, one of which is currently in the third year of paying monthly funds to a bankruptcy trustee. Those monthly payments are current and should be ending in Feb. or Mar. 2013. The brother contacted his attorney about whether the timing of the inheritance money would allow them to keep it, if the disbursement were made after the 3 year trustee payments were completed. We did not expect that he run to the trustee and let her respond to the question. The trustee says that all his share of inheritance money needs to be turned over to the court. We are talking about less than $5000, but the money is really needed by my brother just to stay afloat. Is there a legal work around so he could keep the money?
Submitted: 10 months ago.
Category: Bankruptcy Law
Expert:  WALLSTREETESQ replied 10 months ago.

WALLSTREETESQ :

This is a common issue,

WALLSTREETESQ :

In a chapter 13, he can do the following:

WALLSTREETESQ :

1. Close his case, and keep the $5000

WALLSTREETESQ :

and refile later, and start again

WALLSTREETESQ :

2. Keep the inheritance and pay it back to the creditors through the rest of the plan,

WALLSTREETESQ :

so if he would receive $5000,

WALLSTREETESQ :

he can arrange to have the $5000 paid over the remaining plan,

WALLSTREETESQ :

so if he has 10 months left he would pay $500 extra per month

WALLSTREETESQ :

Another option may be to delay his distribution,

WALLSTREETESQ :

till after the completion,

Customer :

We were wanting to delay it until after the completion of the plan. When we asked his attorney if that could work, he forwarded the question to the trustee. She is now aware of the inheritance and says it has to be turned over to the court. Can they force us to make a distribution now?

WALLSTREETESQ :

It should not have been discussed with the trustee, but it could be done,

WALLSTREETESQ :

through the probate, if the trustee wants he could review the probate case and see what is left over.

WALLSTREETESQ :

Your probate attorney may be able to delay the payments.

Customer :

Exactly my thoughts. Am so frustrated with the attorney for having done that. The money is all in a checking account now and we were not going through probate.

Customer :

Just going by the written will.

WALLSTREETESQ :

that may be better,

WALLSTREETESQ :

I would send it to probate court, that will take several months,

WALLSTREETESQ :

he should advise the trustee that, he does not know how much he will get,

WALLSTREETESQ :

as the WILL was never probated,

WALLSTREETESQ :

during probate, it may be possible

WALLSTREETESQ :

to delay it enough that the trustee leaves it alone

Customer :

Is there much cost involved with probate?

WALLSTREETESQ :

if it is a small estate it should be less than a few hundred dollars,

WALLSTREETESQ :

without an attorney, you should check with the local probate court or surrogates court,

WALLSTREETESQ :

That is a valid reason to delay the matter, as probate could take years as well,

WALLSTREETESQ :

he can advise the trustee he was not aware that the WILL has to go to probate, and that will take some time, and he does not know for sure the amount of the inheritance if any

Customer :

Yes, it would be considered a small estate.

Customer :

So what is the difference between probate and surrogates court? Is one preferable in this situation?

WALLSTREETESQ :

no they are the same,

WALLSTREETESQ :

Typically the surrogates court, is the place you go to file a Probate of a Will

Customer :

Ok, if we opt not to use probate, does the executor of the estate have the right to simply determine when the distribution is made?

WALLSTREETESQ :

The Will to be valid has to be Probated in court, if it is not another heir or sibling can sue the executor,

Customer :

I see.

WALLSTREETESQ :

No bank or court will accept the will without probate,

Customer :

Ok I think I am getting the picture. Thank you for your help.

WALLSTREETESQ :

Good luck, and if you have any further questions please do not hesitate to aks.

WALLSTREETESQ :

ask

WALLSTREETESQ :

If satisfied with our service please provide us with positive feedback.

Customer :

Well thanks for that option. May have some more questions as things develop.

WALLSTREETESQ :

Ok, good luck,

Customer :

Thanks again!

WALLSTREETESQ :

and make sure he advises his lawyer that no inheritance has been determined yet

Customer :

You are speaking of my brother advising his lawyer?

WALLSTREETESQ :

yes,

Customer :

the guy handling their bankruptcy?

WALLSTREETESQ :

Yes,

WALLSTREETESQ :

he should advise the trustee that probate has not started and no inheritance has been determined,

Customer :

Ok, good. Will I be able to reference this chat later if I want to or does it go away when I end the chat?

WALLSTREETESQ :

Once you provide us with feedback, the chat is saved and emailed to you

Customer :

Ok. thank you.

WALLSTREETESQ :

Good luck

WALLSTREETESQ :

If satisfied with our service please provide us with positive feedback.

WALLSTREETESQ :

Thank you

Expert:  WALLSTREETESQ replied 10 months ago.
Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

What happens now?

If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.