Two Bankruptcy Mistakes People Make With Inheritances

Though inheriting money or property is often a fortuitous event, people who filed bankruptcy—or plan to do so—often make mistakes that result in the assets being confiscated by the bankruptcy trustee. Here are two common blunders people make when dealing with an inheritance during bankruptcy and how to avoid them. Not Planning for the Windfall Not all inheritances come out of the blue; sometimes they can be predicted. Although it may be difficult dealing with the circumstances leading to your receiving assets from a loved one, you’ll be doing yourself and the person a disservice if you don’t take steps to protect them.