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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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Upon surrendering an inheritance received within the 180 day

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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.
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