Filing for bankruptcy is typically a “snapshot” on the day of filing. As such, you keep your exempt property and anything you obtain after filing. Keep in mind, however, that if you receive any kind of inheritance, property settlement or life insurance proceeds within 180 days of filing your bankruptcy, you may have to turn that money or property over to the trustee to pay your creditors if it is not exempt.
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please feel free to contact me at udallshumway.com or an attorney in your area.
Leave A Comment
You must be logged in to post a comment.