I AM CONSIDERING FILING BANKRUPTCY BUT NOW MY FATHER HAS JUST DIED AND THEIR WILL BE AN INHERITANCE LESS THAN $100,000.00. DO I HAVE TO CLAIM THIS MONEY IF I FILE BANKRUPTCY IN THE STATE OF WISCONSIN
2007-06-26 14:45:51 · 4 answers · asked by jloew2001 1 in Business & Finance ➔ Taxes ➔ United States
Absolutley! In accourdance with federal law any and i mean ANY income must be listed... With inheritance it must be listed whatever you have recieved in the past 4 years. If you fail to list this and are investigated ya.......could get ugly......
With that amount of income you will probally have to file a chapter 13. Or perhaps you should consider using that money to pay your debts!
(im a bankruptcy paraglegal)
2007-06-26 15:39:36 · answer #1 · answered by jenny m 1 · 0⤊ 0⤋
Here you can compare different options
RE Inheritance and bankruptcy?
I AM CONSIDERING FILING BANKRUPTCY BUT NOW MY FATHER HAS JUST DIED AND THEIR WILL BE AN INHERITANCE LESS THAN $100,000.00. DO I HAVE TO CLAIM THIS MONEY IF I FILE BANKRUPTCY IN THE STATE OF WISCONSIN
2014-10-01 07:10:42 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I would think so, it is your money after all. You ca pay back the people you took money from, you should be rejoicing.
2007-06-26 14:48:56 · answer #3 · answered by Landlord 7 · 0⤊ 0⤋
Yup.
2007-06-26 15:04:33 · answer #4 · answered by Judy 7 · 0⤊ 1⤋