inheritence, quick question

flowergirlgush

Hi all, quick question,

If i came into or was left any inheritence during my bankruptcy, i assume they will take it off me, however, does this only last until i am discharged (12 months) or could they take it off me after i was discharged??

k2nga

Nope just the 12 months....

deedee_3

If the person dies during your bankruptcy then when you come into the money you have toinform the OR even if it is after you have been discharged, sorry.

k2nga

deedee are you saying that even after the 12 months you still have to inform the OR?????

I was under the impression that after the 12 months you are completely released from having to inform the OR of anything else?

fiveyearplan

If the person dies before discharge you need to inform them, if they die after discharge you don't need to inform them. Not sure if you get an IPA if you need to inform them during the 36 months. Let's hope everyone is healthy!

deedee_3

Thanks for clayifying my point FYP. I have the distinct feeling that if you are in an IPA then if someone dies you have to inform the OR.

k2nga

Phew so in my mind i was right. lol

flowergirlgush

thanks guys

dalip

deedee wrote: »

Thanks for clayifying my point FYP. I have the distinct feeling that if you are in an IPA then if someone dies you have to inform the OR.

The way it was explained to me was "if in an IPA and you inherit money it is not taken from you unless you decide to use it as income(instead of working)not sure about interest on a large lump sum:o Does that make sense?.

deedee_3

Yes it does make sense, thanks Dalip.

fiveyearplan

That clears up inheritance and IPA - thanks D.