Legal Question in Bankruptcy in Illinois

exemptions

I was just wondering if you could let me know if there is any exemptions when filing bankruptcy from a medical malpractice seetlement on behalf of another family member for whom i am an heir. We had allready been dis charged from our debt when they sent us a letter attaching to the settlement. If you can help, it would be greatly appreciated.


Asked on 9/21/00, 1:49 pm

1 Answer from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: exemptions

I THINK that you have a misunderstanding; the money which you receive from another's estate is PROPERTY. Conceptually, when you file a bankruptcy case, i.e., a case under Chapter 7, which I assume you did, you transfer all of your right, title, and interest in all your property to the Trustee for liquidation EXCEPT that property for which there is an exemption. In Illinois, there is a $2,000.00 "Wildcard" exception which would apply to this property. After that, the rest probably belongs to the Trustee. I would suggest, strongly, that you consult a legal professional who concentrates his/her practice in this area. Good Luck!

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Answered on 10/20/00, 6:29 pm


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