Legal Question in Bankruptcy in Michigan
Wills and Bankruptcy
My parents want to leave me app. $80,000 in bonds and cash in their will. However, my husband is self-employed and we have had many near-bankruptcy situation. My parents are afraid that collectors could take that money away from me since my name is on the business also. Can collectors take inherited money from a person when they go bankrupt?
Sincerely, Sue Chabot
Asked on 7/13/00, 4:21 pm
1 Answer from Attorneys
Ken Koury
Kenneth P. Koury, Esq.
Re: Wills and Bankruptcy
Not if the business is incorporated. if it is not a corporation, consider making it one.
Answered on 9/08/00, 7:34 pm
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