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inheritance

my dad is 82 – i will have to go thru either bankruptcy or proposal soon – if my dad passes and i receive an inheritance after being approved for bankruptcy or proposal, can i keep the inheritance? which route is better? thanks.

Posted from: Ontario

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One Response to “inheritance”

A licensed trustee said...

If your father passes while you are an undischarged bankrupt then whatever you may be entitled to under the terms of the will vests (belongs) to your trustee for the benefit of your unsecured creditors.

If your father passes and you have filed a consumer proposal you are under no obligation to inform your trustee about the will (unless he dies in the first 60 days after you file). Whatever money you may be entitled to under the will is yours to keep.