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Are inheritances or lottery winnings protected in Bankruptcy?

An inheritance is not a protected asset. In fact, if you inherit anything in the 180 day period after filing your petition, that fact has to be reported to the bankruptcy trustee and your lawyer and the asset turned over to the bankruptcy estate, – subject to any exemptions you may be able to claim. The same rule applies to lottery or gambling winnings or any other windfall you may receive.

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