Legal Question in Wills and Trusts in Washington
Inheritance & Bankruptcy
Hello,
I have gone through significant hardship this year, including having my home foreclosed on and my personal property removed, and voluntarily having my car repossed. I am a single mother with a 2-year old son.
I have contemplated filing bankruptcy several times, but haven't...due to shame.
My mother passed away a month ago, and I think she'll have a sizeable estate.
My only sister is concerned that my creditors will end up with the inheritance.
Will bankruptcy help protect the inheritance, or is there a need to disclaim/renunicate, as she is suggesting?
Thanks for your assistance with this question.
2 Answers from Attorneys
Re: Inheritance & Bankruptcy
I ma not a bankruptcy lawyer. You need to consult with one immediately. Try Charlie Johnson in Seattle.
Re: Inheritance & Bankruptcy
SEE A BANKRUPTCY ATTORNEY! You may have to disclose your right to the inheritance. However, you may be able to convert some of the inheritance into exempt property. But more information is necessary concerning amounts of debt and inheritance, etc. See a bankruptcy attorney for a consultation.