What is the time period that an inheritance becomes part of a bankruptcy estate?

Filing for bankruptcy is a big decision.  You should consult with a bankruptcy attorney to find out all your rights and options.  When you file your bankruptcy petition, you must list all your assets and provide the names of your creditors.  You have exemptions that you can claim to keep some of your assets as long as the value does not exceed the statutory state or federal exemptions.  You must notify the bankruptcy trustee and amend your bankruptcy petition to include inheritance in bankruptcy estate if you receive an inheritance within 180 days of the date of your filing for bankruptcy and that time period is also within the 180 days of the death of the person granting you the inheritance.  Under those circumstances, the inheritance automatically becomes part of the bankruptcy estate.  If you receive the inheritance after 180 days, you have the option not to include it in the estate if you filed a Chapter 7 bankruptcy, a complete liquidation.  However, you may still need to include the inheritance as part of your Chapter 13 bankruptcy reorganization repayment plan.  If the inheritance is put into an established trust that was in effect prior to filing bankruptcy, your creditors cannot touch the trust assets.   

Bankruptcy matters are very complex. You should hire a bankruptcy attorney prior to filing bankruptcy. The attorney can explain the federal and state bankruptcy laws to you and advise you which bankruptcy Chapter you should file under. The attorney can prepare the bankruptcy petition and other documents for you to avoid errors so your petition is not rejected or denied and so you don't have to start the process over or jeopardize your rights.