I met with a bankruptcy trustee this week regarding my late husband’s estate. He hadn’t filed his taxes for several years and owes mega bucks to the CRA. On the one hand I am not responsible for paying his taxes, but on the other hand they can go after his share of the house. So, I will have to buy out his share of the house, which after everything is said and done could be around $60,000. That is actually less than what I originally thought it might cost me, so I guess that is good. But, I feel conflicted about declaring his estate bankrupt. He would have hated that. But, I have to do what I can to preserve my retirement funds for my future. Besides if he didn’t want to be bankrupt he should have paid his damn taxes. So many thoughts and emotions swirling inside of me. Guilt, anger, grief, relief. sadness, even a touch of happiness, which brings on more guilt for being happy.
I have to meet with the trustee again next week and give him some paperwork and pay a retainer of $7000. Now, I ask you, how do people that are bankrupt afford $7000? I am in an unusual situation because it is my late husband that is bankrupt, and I have his life insurance money squirrelled away. But, isn’t the point of bankruptcy that you have no money to pay your debts?
This is going to be a stressful process, but I have to do it to move on.