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WALLSTREETESQ
WALLSTREETESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 17252
Experience:  14 years exp., CH 7 AND 13 Bankruptcy cases, AFL-CIO UNION PLUS, UFT NYSID AND ALL MAJOR UNIONS
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I am filing bankruptcy in florida,chapter thirteen my wife,

This answer was rated:

I am filing bankruptcy in florida,chapter thirteen, my wife may inherit some money in a couple of years from a trustfrom her father.  Can this money be garnished or attached if so what is the best way to preserve her trust


WALLSTREETESQ :

Hello I am a licensed attorney here to help you with your question, please review my response and do not hesitate to ask for clarificati on.

WALLSTREETESQ :

If she has not received the amount now, it is best she file a chapter 13, and not mention it to the trustee, under the law, if it is received more than 180 days after filing your Chapter 13 case, you may be required to increase what you are paying to unsecured creditors. In addition, the trustee can argue that keeping all of your inheritance without paying more to your unsecured creditors may violate the good faith requirement of a Chapter 13 plan.

WALLSTREETESQ :

In order to protect her from having any issues, it may be worth it to speak to the Estate handling the matter, to not distribute any funds for atleast 5 years since the plan will be over.


 


If she filed a chapter 7, after 180 after discharge she would be able to keep the money.

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Customer: replied 5 years ago.

Thanks your answer is very to the point I have one more issue to discuss if possible. There is a property owned by my wifes mother which goes to her and her brother upon her passing. Should we deal with this the same way? What is the best way to protect that property .The property is not in a trust at this time. I am going to authorize payment for the questions.