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I Want To Keep My Inheritance And File For Bankruptcy

I Want to Keep My Inheritance and File For Bankruptcy

May 15, 2015

I WANT TO KEEP MY INHERITANCE AND FILE FOR BANKRUPTCY

Once in a while, a prospective client will tell me that they are receiving an inheritance and they want to file for bankruptcy. I then explain to them that the inheritance would be part of the bankruptcy estate and the money would have to be turned over to the Trustee which would then be used to pay their debts.

Of course, clients don't like to hear that. So they then start coming up with all kinds of excuses. They may say "I owe my children some money, so can I pay them off?" The answer is always no because this is an insider preference.

So the client may think again on how they can keep the money and then ask "what if I just don't want the inheritance and give it to my children?" The answer of course is still NO because now it is a fraudulent transfer.

The client then out of desperation will finally ask "what if I don't say anything about this. And since you are my attorney, you will do what I want you to". I then tell them that this would be a crime and I do not want any part of this.

This is just one example of how some people are thinking "how do I hide this from the Bankruptcy Court".

Keep this in mind. We at Bates and Hausen, LLC and Law Office of John R. Bates will never support a client hiding anything from a Court. We understand the Bankruptcy Law and we will fight for you as long it is in the bounds of the law. We will not lead you down the wrong path.

If you are seeking experienced, good bankruptcy attorneys, feel free to contact us. We serve all of Northeast Ohio with offices in Akron, Canton, New Philadelphia, and Wooster.

 

Submitted on May 15, 2015

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