Can my brother denounce inheritance so we don't have to pay debt...?

blind-as-a-bat_2

peachyprice wrote: »

So you think he should denounce his share, which will presumably go to you and your other brother, leaving his debts unpaid?

How is that right that he has the means to pay off his creditors what he rightly owes but you would rather he didn't, leaving him to be hounded by his creditors for the rest of his days.

Who may make him BR..................

ViolaLass

If you've already tried to teach him to budget, what makes you think that drip feeding him his share is going to make any difference? He'll still be able to get into further debt. And surely the money will still be 'wasted' in your eyes as he'll have to spend it on debt management.

Why not just let go? It may not be what your father would have preferred ideally but you can't ignore the reality that your brother has already run up these debts. If you think he'll waste the remaining £35k after paying the debts off, how do you know he won't waste the money you propose to drip-feed to him?

Lastly, if you were one of his creditors, wouldn't you want to get paid?

peachyprice

blind-as-a-bat wrote: »

Who may make him BR..................

And he loses the lot anyway

System

lombrozo wrote: »

Not sure it would make any difference now the probate is almost done anyway.

If probate is almost done then why don't you know who the executors are? The executors apply for probate.

lombrozo wrote: »

I think the 3 of us are executors... It's definitely not my older brother, might be me or my other bro....

mistrihelen

Might he not be able to make a new start after paying off these debts with his inheritance money? Am sure he can look into ways of getting financial help with how best to manage whatever's remaining.

lombrozo

seven-day-weekend wrote: »

But why should the money not be used to pay his debts off? It is right and proper that what is owed should be paid. You can then drip-feed the remainder.

I completely agree, it SHOULD be paid back, but it should be HIM that pays back the debts through his OWN graft, HE is responsible for it, NOT my father

ViolaLass

Ok, on the same basis, I hope you don't plan to use your father's money to do anything you might enjoy, such as taking your family on holiday. I also hope you don't plan to pay off any mortgage or other debts you might have.

After all, you wouldn't be doing any of that through your own hard graft, it would just be thanks to your father.

lombrozo

ViolaLass wrote: »

If you've already tried to teach him to budget, what makes you think that drip feeding him his share is going to make any difference? He'll still be able to get into further debt. And surely the money will still be 'wasted' in your eyes as he'll have to spend it on debt management.

Why not just let go? It may not be what your father would have preferred ideally but you can't ignore the reality that your brother has already run up these debts. If you think he'll waste the remaining £35k after paying the debts off, how do you know he won't waste the money you propose to drip-feed to him?

Lastly, if you were one of his creditors, wouldn't you want to get paid?

Absolutely I would, and I can completely see the creditors side of the argument, that's why I personally don't get in to debt in the first place.

I guess I want my bro to face up to his responsibilities, using my dads money is an easy way out and won't teach him any lessons, he'll continue to do what he has always done.

lombrozo

ViolaLass wrote: »

Ok, on the same basis, I hope you don't plan to use your father's money to do anything you might enjoy, such as taking your family on holiday. I also hope you don't plan to pay off any mortgage or other debts you might have.

After all, you wouldn't be doing any of that through your own hard graft, it would just be thanks to your father.

I think there's a difference to using the money wisely, and constructively (such as paying off a mortgage), and using ti to pay off 40k of debt you've accumulated through frivolous spending

lazer

If all parties to a will agree inheritances can be changed through a deed of variation

Check this out

http://www.inbrief.co.uk/deed-of-variation.htm