What about my inheritance
Date: Mon, 05/24/2010 - 14:22
Have you actually inherited it yet or is it just sitting there a
Have you actually inherited it yet or is it just sitting there accruing interest in the stock market until the person passes away?
If the former then no as you cannot even touch it yourself. If the latter....possibly. It all depends on your states exemptions for levy/attachment really. I'd consult a lawyer and see what he says.
Do not, repeat NOT consult just any old garden variety lawyer however. Most know little to nothing about civil issues such as this. I talked to 3 who scared the living &*( out of me prior to doing my own research into the statutes and talking to an experienced Bankruptcy/Consumer lawyer and finding out the real skinny.
I know that certain types of IRAS (of which mutual funds usually are a part) are exempt in certain states.
Good luck