Gayla Posted December 4, 2004 Report Share Posted December 4, 2004 I previously posted here: http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=22288Now, here's the latest. I had an appointment last week to meet with an attorney to discuss my case. This was on Monday.Lo and behold, the unthinkable happened to me, sounds like fiction!!My brother calls me 5 days before I was to see the lawyer, to tell me that an uncle that recently passed away has left us an inheiritance!!! Funnily enough, I had made the appointment that morning, only hours before. I nearly died of a heart attack! Now, granted this man was wealthy, but we were not that close, so this was totally unexpected. So I cancelled the appointment until I could get my thoughts together.We have no idea at this point how much money this involves; could be $20, could be $20,000. From what we understand, it has to be submitted to the court for probate within 30 days of his death. And that we will get a letter from the executor filling us in on the details. I believe along with money, stocks, etc., I do know there is property to be sold, but already has a buyer ready to buy it now. I tried to read up all I could to find out the workings of this kind of thing, and from all I can gather, this could take anywhere from a month or 2 or up to several years to finish, depending on how complicated it is. There are so many ifs, ands, buts, and maybe's, it is mind boggling.Now, this is all well and good, but my financial situation is still sinking fast, and it would be an awful shame to have my credit ruined at this point, but I don't know which way to turn. Needless to say, I'm pretty confused by now.I know that if I go ahead and do Ch. 7 now, as soon as any of this windfall comes in (however large or small) will be taken to pay them. And my credit is still shot for the next 10 years.The way my luck runs, I would be at the point where all the Ch 7 was completed, and then I would get the inheiritance.And the icing on the cake is; from my previous post, you see where I am trying to sell some property that has been tied up in a legal nightmare. This, at this point, we've been told can be freed up to sell MAYBE by March next year. But we've been lied to by our incompetent lawyer who's said the same thing before only to have things drawn out longer and longer. I could write a book about all the hell we've been through with him. It's been a total joke. Plus, this property issue is partly why I'm in this fix to start with, and anything I get from the sale, will cover what I spent out on it, with maybe a couple thousand to spare. Legal fees alone were a large part of it.So here I am, with funds just out of reach, and at the end of my financial (and mental) rope. I guess I can still go see the lawyer, but thought I would pick your minds here, and see what any thoughts are. I feel like I'm between a rock and a hard place. Any thoughts on this strange situation I'm in???? Thanks,Gayla Link to comment Share on other sites More sharing options...
willingtocope Posted December 5, 2004 Report Share Posted December 5, 2004 I don't have any answers for you but I do have some more suggestions...You might contact the executor of your uncle's will to ask for a ball park figure...it won't be exact until probate is done, but you might be able to get a feel for how much you're looking at.What state are you in? I ask, because some states allow the beneficiary of life insurance to claim that as an exemption. If you uncle's estate includes insurance, you might be able to BK now...You're probably right that the BK trustee would be real interested in any inhertiance coming your way. If you're not happy with your current lawyer, find another...you could let the first one continue with the property settlement, and talk with another about BK and inheritance... Link to comment Share on other sites More sharing options...
Gayla Posted December 5, 2004 Author Report Share Posted December 5, 2004 Thanks......I just noticed I posted this on the wrong forum, I meant to post over on the Bankruptcy one. Also, I'm in GAI have not talked to a lawyer yet.I don't belive that life insurance will play a part in this. Funnily enough, my uncle did not believe in insurance of any kind, medical or anything. He thought it was just giving money away for nothing or something I guess. He just had a fund he used to pay medical bills and such. Nice for him, but not for most people who would be financially ruined with a huge medical bill.I hesitate to ask anything yet of the executor, as I don't want to seem like a greedy relative. I have too much pride I guess. No telling how many of my cousins have asked him/her this yet. I would be so embarrased to do it.Gayla Link to comment Share on other sites More sharing options...
willingtocope Posted December 5, 2004 Report Share Posted December 5, 2004 Assuming the executor is a lawyer, I'd just explain the situation to him, and ask his advice. Who knows, he might even handle BKs...or point you to another lawyer that can help. Now's not the time to let pride stand in the way (probably, like me, pride contributed to the fix you're in to begin with) Link to comment Share on other sites More sharing options...
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