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Old 09-18-2007, 09:44 AM
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inheritance exemptions in chpt 7

What is the name of your state? mi

hi

we have filed for chapter 7 in michigan.Is there a legal way to shelter or exempt an inheritance that may be coming to us?

are any types of inheritance exempt?

if funds were put into an IRA,would that be exempt?
Last edited by mike_84; 09-18-2007 at 10:22 AM.
  #2  
Old 09-18-2007, 11:39 AM
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It will considered an asset. You can hope the amount falls within the exemption amounts for your state or ask that the bankruptcy be dismissed.
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Old 09-18-2007, 03:22 PM
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Or, if the person who is leaving the inheritence dies over 180 days from your bk filing date, the inheritence is yours to keep,.
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