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Gifts

How far back do I need to declare assets prior to bankruptcy? More specifically, if I received a cash gift 13 months before filing for bankruptcy is that to be included?

Posted from: Ontario

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One Response to “Gifts”

A licensed trustee said...

It literally depends on the size of the asset, what you did with it and how much debt you had when you received it and/or disposed of it.

Your best course of action is to disclose it to your trustee BEFORE you file and let them advise you as to whether or not it is relevant.