FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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discharge and inheritance

So what if you have received your discharge and then get an inheritance? Is that money subject to be touched by debtors etc.?

Posted from: Ontario

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One Response to “discharge and inheritance”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Yes, while in bankruptcy if you have any lump sum of money or property that is not relating to your normal income or property it is lost as part of the bankruptcy.

So your legal obligation is when you become aware of any lump sum of money or property (including an inheritance), you legally are required to disclose this to your trustee and failure to do so is considered to be an offense under the Bankruptcy and Insolvency Act and will result in significant penalties.