Note: The DearEsq free 'ask a lawyer' site is offered as a free informational service to the public and is not intended as legal advice. Laws vary from state-to-state, and in addition every situation is unique, and relevant facts may not be known. The answer to the question posed below may not apply to in your state or to your situation. For legal advice in your state and your situation you should consult with an attorney in your state who is familiar with the rules and laws in your state.
“My brother and I both have our names on my grandfather’s home, but he has lifetime conservatorship. If I file bankruptcy, can my creditors do anything with that property? Also, if he passed away within a few months of filing bankruptcy, can the creditors do anything with my brother’s half of the inheritance?”
Question: Unfortunately, the trustee in bankruptcy can go after your assets, and if you have sufficient equity to attach after selling costs, then the trustee in bankruptcy can force a sale of the home. Additionally, your grandfather’s debtors will usually need to be satisfied before probate is over. This includes going after the equity in the house. If you own sufficient equity, you might think about taking out a loan against the house to pay your bills. Your brother would need to cooperate in that.
