How would the trustee even find out about the old inherritance going
back 6 years? If it was received 2008 -2010 you are probably listing
it under pargaraph 2 of the Statement of Financial Affairs, but that
is the only place you would disclose it as income from other sources.
If there were sales or transfers in the last two years or losses in
the last year maybee those could create an issue if they are not
disclosed, but otherwise it would not appear to be an issue that will
attract attention unless unneccessary information is provided to the
trustee. Even still with documented mental illness the trustee or
anyone else that might otherwise take issue with the lack of record
keeping probably can be convinced this stemmed from the illness. I
do not think you should be very afraid of filing the case.
Mark T. Jessee
Law Offices of Mark T. Jessee
"A Debt Relief Agency"
50 W. Hillcrest Drive, Suite 200
Thousand Oaks, CA 91360
(805) 497-5868
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On Fri 4/06/10 7:47 AM , Robert Vitt
robertvitt@vittlawfirm.com
sent:
Debtor suffers from severe mental illness and receives Social
Security Disability on account of this illness.
Debtor has received over $300,000 from mother's estate and then
husband's estate in the last 6 years. Only asset remaining from these
monies is a home purchased in 2008 now worth roughly $100,000.
Debtor has little or no record of how this money was spent and
faces probably $100,000 in consumer debts.
I am certain of three things:
(1) Debtor is not faking (i.e., this is not a case of fraud) (2)
Debtor cannot recreate/trace the funds (3) A Trustee will look at the
size of the inheritances and want to know where that money went, and
refuse a discharge if an adequate accounting is not made.
My thought is, if the debtor cannot tell the story of where this
MUCH money went, then she should not file because no Trustee _can_ or
_would_ take her "word for it".
Right? This is a slam dunk, right?
--
Robert S. Vitt
VITT LAW FIRM
3200 E. Guasti Road Ste 100
Ontario, CA 91761
909.275.7594 Office
909.275.7621 Facsimile
www.bankrutpcy-ie.com [1]
www.vittlawfirm.com [2]
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[3] mailto:
cdcbaa@yahoogroups.com?subjectA really really easy
question for Friday,
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