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

fermi

There are probably more people who know about inheritance planning on the 'families' board, so I'll pop this over to there.

This isn't a bankruptcy issue.

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere(please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].

Mutter_2

The sooner people realise that debt is money already spent the better.

*Louise*

All this talk of drip feeding....what bloody age is he????? :mad:

He is old enough to deal with his own problems. Let him have HIS inheritance without argument, let him pay off the debs and he will still have 30k+ to live on.

By all means help him and advise him, but those debts need to be paid off.

Any loving parent would be more than happy to see a weight being lifted off their childs shoulders. Your father can't dictate from the grave (as he failed to leave a will stating details) so why should you dictate in his place?

Too many people stick their noses into other peoples' business - no wonder there are so many family rifts. Each to their own, let people get on with their own lives, concentrate on making your own a happy one.

maxmycardagain

for going bankrupt theres the courts and the OR



for everything else, theres a beach in Greece......

seven-day-weekend

lombrozo wrote: »

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

But it will be HIS money, not your father's ......and what of the creditors? How do you know there isn't some small business desperately needing the money? (oh for the confused smiley).

Oldernotwiser

maxmycardagain wrote: »

not the only one is he though

if the eldest wanted he could move into dads old house and pay rent to bros 2+3, and claim it back off the social.....

game set and match!

You can't claim rent for a property you partially own.

Oldernotwiser

lombrozo wrote: »

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

But is your father responsible for your cruise or your loft conversion or your pension or whatever you plan to spend your share on?

MrsE_2

Oldernotwiser wrote: »

This is really what it's all about, isn't it? Your brother's on means tested benefits which he'll lose because of the inheritance.

I knew there had to be an angle to this;)

seven-day-weekend

I don't know whether there is an 'angle' or not, I just think it is terribly wrong that debts are not paid when there is the means there to do so, regardless of where it has come from. I would even use the word 'dishonourable' to describe this.

oldMcDonald

lombrozo wrote: »

I work in an office typing at a keyboard all day, my older brother doesn't work at all (lives off the state), so in comparison I'd say 'hard-graft' is the correct term.

Oldernotwiser wrote: »

This is really what it's all about, isn't it? Your brother's on means tested benefits which he'll lose because of the inheritance.

I think it is highly possible that Oldernotwiser has hit the proverbial nail on its head!

lombrozo wrote: »

I plan to do what my father would have wanted, as does my other brother, to keep the house (our family home) for many years to use as a safe house. In the meantime we'd rent it out and split the proceeds to pay off our existing mortgage (my 'other' brother and I have our own house we bought together), we'd give our older brother his share of the rent to live off.

Your brother would have a third share in the house in name, or would he be giving up this part of his inheritance also? If he keeps his share of the house it would be capital and would affect his benefits. If he gets a third of rent on the house he would also be declairing this 'drip - feed' money I presume?