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Prepetition renouncement of inheritance (transfer, or not?)
Mark:
I don't have the cite, but your search should include "disclaimer" or
"qualified disclaimer". The disclaimer has to be within 9 mos of the date
of death and the beneficiary cannot have accepted the benefit of the
inheritance. The case you are you looking for is one in which the debtor
had not received the money, but had listed the inheritance on a loan app.
The court ruled that a disclaimer is not a fraudulent transfer, but the
listing on the loan was an acceptance of the interest that he sought to
disclaim, so he could not disclaim it. So the debtor one the battle to
benefit of many other debtors, but lost the war.
If you have any questions or concerns, please contact me.
Pat
Patrick T. Green
Attorney at Law
Fitzgerald & Green
1010 E. Union St. Ste. 206
Pasadena, CA 91106
Tel: 626-449-8433
Fax: 626-449-0565
pat@fitzgreenlaw.com
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I recall there being a case in our circuit that held that a
prepetition renouncement of an inheritance was not considered a
transfer and therefore there were no fraudulent transfer issues. I
can't find the case. Does anyone know the name or cite?
*************************
Mark J. Markus
Law Office of Mark J. Markus
11684 Ventura Blvd. PMB #403
Studio City, CA 91604-2652
(818)509-1173 (818)509-1460 (fax)
web: http://www.bklaw.com/
Certified Bankruptcy Law Specialist--The State Bar of California
Board of Legal Specialization
This Firm is a Qualified Federal Debt Relief Agency (see what this
means at
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