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If i file a chapter 13 and i have an inheritance in a trust…

If i file a...

If i file a chapter 13 and i have an inheritance in a trust that I have to split with another beneficiary and I have not done the taxes on it yet nor settled the estate but I have used and distributed some monies in the past to both myself and the other beneficiary in order to pay some bills will this be held against me in the bankruptcy as I am also being audited

Lawyer's Assistant: What state are you in? And has anything been officially filed?

Pa yes but I told my attorney not to file and he insisted on it because somehow someone got a judgment against me for 75,000 but it needs to be appealed

Lawyer's Assistant: Has anything been filed in civil court? If so, what?

He filed a chapter 13 but i dont think i can go thru with it because of the inheritance money

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No i was trying to just settle with the person that i supposedly owe the 75,000 but the banruptcy attorney said he cannot do it outside of the bankruptcy and that I cannot do it either

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Answered in 1 hour by:
11/16/2017
Law Educator, Esq.
Category: Bankruptcy Law
Satisfied Customers: 126,810
Experience: Attorney At Law handling education matters.
Verified

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

You would need to claim the distributions from trust to you as income and the trustee needs to be aware of the money being received even if it went directly to the bills. The amount of the inheritance can impact your qualification for bankruptcy, so you can actually be denied the bankruptcy as well depending on the size of the trust and your share.

Please do not forget to leave positive feedback by clicking on the 5 stars at the top of your page, as the experts are not employees of the site and get no credit for spending time with customers unless they leave positive feedback. Thank you.

Law Educator, Esq.
Category: Bankruptcy Law
Satisfied Customers: 126,810
Experience: Attorney At Law handling education matters.
Verified
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Thank you that makes more sense than my attorney!
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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