[CLBS] "windfall" money

[Catherine Dullea]

A number of years ago at the annual Winter Bankruptcy Seminar, there was a
"game show panel", and one of the questions was whether a debtor had to
disclose that she married Mr. Moneybags the day after she filed her
bankruptcy.  There was no such duty, and many of us in the peanut gallery,
including me, got the answer wrong.  Later that evening I asked Judge Myers
about it because I was also under the impression that all "windfalls" must
be disclosed, and he said that it was just inheritance, divorce settlement
or insurance policies.  That was pre-BAPCPA, and I don't know if any changes
have been made to the code which would change the answer.

-----Original Message-----
From: clbs-bounces at admws.idaho.gov [mailto:clbs-bounces at admws.idaho.gov] On
Behalf Of Tyler McGee
Sent: Thursday, June 21, 2012 10:17 AM
To: clbs at admws.idaho.gov
Subject: [CLBS] "windfall" money


I have always assumed that financial windfalls after filing had to be
disclosed. In fact, the trustee's statement of information (at least in my
neck of the woods) requires disclosure to the trustee of any windfall.
However, I see nothing in section 541 that would include financial windfalls
outside of inheritance, divorce property, or life/death policies in the
bankruptcy estate. Is there a case or other statute out there that I am
unaware of that would require disclosure or turnover of financial windfalls
like gambling or lottery winnings?


Tyler J. McGee

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