If you file for bankruptcy and then get an inheritance, are you required to repay the debt under the bankruptcy?

Asked over 1 year ago - Wood-ridge, NJ

There is some credit card debt, and a large debt for a hospital stay and surgeries performed at that hospital. In addition, this is the second time filing bankruptcy in 11 years.

Attorney answers (3)

  1. Anthony Matthew Vassallo

    Contributor Level 13


    Lawyers agree


    Answered . An inheritance is one of the few assets that you might receive after filing for bankruptcy that can be reachable by a bankruptcy trustee. The inheritance is reachable if you receive it within the 180 day period after you file for bankruptcy. It is intended to discourage the distasteful type of bankruptcy planning where someone with debts files for bankruptcy protection when hearing the news that the death of a wealthy relative is imminent.

    But the 180 days applies to everyone regarding of nefarious motive or simply bad timing.

  2. Sonila Isak

    Contributor Level 9


    Lawyers agree


    Answered . You are required to report your inheritance to your bankruptcy attorney or to the bankruptcy trustee upto 6 months after the date of discharge. Best of luck.

  3. Diane L Gruber


    Contributor Level 18


    Lawyers agree

    Answered . I agree with both attorneys. It is all in the timing. Talk with your BK attorney.

    Be sure to designate "best answer." If you live in Oregon, you may call me for more detailed advice, 503-650-9662.... more
Avvo instant logo@2x

Need an answer to your questions within 15 minutes?

  • 30-minute phone call
  • Ask any questions
  • $99 flat fee
  • Money-back guarantee
Talk to an attorney now

Can't find what you're looking for?

Ask span5@2x

Ask a question on our public forum.

Ask a lawyer
Instant span6@2x

Have an attorney contact you privately.

Right now.

Icon lock@2x
Secure conversation. Your details remain between you and your attorney.
Icon clock@2x
Get an answer guaranteed. Be assured that a lawyer will contact you to help with your legal issue.
Start your session now