Duty to of Ch. 13 debtor to disclose postconfirmation inheritance (2 years into plan)
Posted: Mon Jul 22, 2013 10:39 am
Look at the confirmed plan local form: assets are not vested back to debtor. Debtor has a duty to disclose if an asset of the estate. If under a will it is part of estate. If under a trust you may have an argument that it is not because it is not through, bequest, devise, or inheritance. See matter of Newman 902 f.2d 1150 (7th cir. 1990).
Mark Jessee
Sent from my iPhone
On Jul 22, 2013, at 10:17 AM, Daniela Romero wrote:
> Hi all,
> What is the duty of a debtor in a confirmed chapter 13 plan to disclose an inheritance she receives approximately 2 years into the plan?
>
> It appears that under Sec. 1306(a) the new inheritance is property of the estate, thus the debtor has a duty to amend the schedules and disclose the inheritance to the trustee. However, under 1327(b) confirmation of the plan vests property of the estate back to the debtor.
>
> Any consensus here?
>
> Thanks!
>
> Daniela P. Romero
>
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