Law Office of Timothy E. Wilfong, LLC

You Deserve a Fresh Start - Phoenixville, PA


Call us at 610-935-5555 for a Consultation

Helping Clients Since 2008



 
 
Law Office of Timothy E. Wilfong, LLC
20 S. Main Street, Phoenixville, PA 19460
 
 
I'm expecting an inheritance, should I file for bankruptcy?
 
 



You Deserve a Fresh Start
 
 
 
 

I'm expecting an inheritance or life insurance payment, should I file for bankruptcy?


 
Unfortunately, if a person receives an inheritance or life insurance payment within certain time frames after filing for bankruptcy and during its pendency then all or part of the proceeds may be paid to the creditors.  The timing of whether someone may receive an inheritance is difficult to predict so there is an element of risk in this respect when filing bankruptcy.
 
Likewise, if someone has already passed away and the payment of an inheritance is pending then the beneficiary must list the pending inheritance or life insurance policy as well.  Just because the executor has not paid the inheritance does not exempt it from creditors.
 
If you are considering filing bankruptcy then please contact the Law Office of Timothy E. Wilfong, LLC at 610-935-5555 to review your options.