spouse’s inheritance?

August 3rd, 2011 by Questions

My husband is considering filing for bankruptcy. Currently, our combined income is such that I don’t think I (we live primarily off my salary) would have to pay excess income. My father is recently deceased however, and I will likely receive a substantial inherence in the coming year. Will this be included in our “family income”? If so, is it better for him to wait until after I receive it?

Posted from: Quebec

Questions

One Response to “spouse’s inheritance?”


, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

If just your spouse files for bankruptcy this likely wouldn’t be an issue as an inheritance is perceived as an asset not as income.

Now this would change if you were both filing a bankruptcy, but as long as the bankruptcy is only in your husbands name and he is not the one receiving the inheritance you likely won’t have any issues. But just to be sure you are best to discuss this directly with the local trustee you will be using, just in case there is something unique about this situation that I am not privy to.

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