I also have some debt out there ... back taxes, student loans, medical bills, etc.... I intend to take care of these matters, but am curious if this will just be taken out of the money that was inherited to me ?
Family Law Attorney
It is unlikely your creditors can directly take your inheritance. If there are judgments against you, your bank account can be garnished, however.
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Estate Planning Attorney
Inheritances are not taxable income. The income that inheritances generate (such as interest if it is invested during the time of administration) is be taxable but with $25,000 that would be very unlikely to amount to much.
This is not legal advice nor intended to create an attorney-client relationship. The information provided here is informational in nature only. This attorney may not be licensed in the jurisdiction which you have a question about so the answer could be only general in nature.
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