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Bankruptcy discharge and subsequent bequest in a will
Comments
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You are right if it is in trust then it cant be claimed, HOWEVER under certain circumstances the trustee may challange some trusts in court, BUT i think this is unlikely in an inheritance as the money was never the bankrupt's to start withHi, im Debtinfo, i am an ex insolvency examiner and over the years have personally dealt with thousands of bankruptcy cases.
Please note that any views i put forth are not those of my former employer The Insolvency Service and do not constitute professional advice, you should always seek professional advice before entering insolvency proceedings.0 -
You are right if it is in trust then it cant be claimed, HOWEVER under certain circumstances the trustee may challange some trusts in court, BUT i think this is unlikely in an inheritance as the money was never the bankrupt's to start with
Also it has to be put into trust in the will, it cannot be put into trust as an after action.
So written in the will that it will go into trust (Pre Death) - OR cant normally touch it
Not written into the will, but put into trust afterwards (Post Death)- OR will go for it and that can include in court
TimI Also Post On Other Forums
My advice is guidance only, if you want the law then consult a lawyerPlease note that I DO NOT give advice by Private Message, this is to protect both you and me. However you can draw my attention to a particular topic by PM0 -
Ineedaname wrote: »I'm pretty sure that's the case Wok Boy.
Still in BR year - must inform OR
Discharged but and IPA/O in place - must inform OR
Discharged and no IPA/O in place - no need to inform OR
Discharged and IPA/O ended - no need to inform OR
If I've got that wrong please clarify for everyone.
Spot On!
TimI Also Post On Other Forums
My advice is guidance only, if you want the law then consult a lawyerPlease note that I DO NOT give advice by Private Message, this is to protect both you and me. However you can draw my attention to a particular topic by PM0 -
Also it has to be put into trust in the will, it cannot be put into trust as an after action.
So written in the will that it will go into trust (Pre Death) - OR cant normally touch it
Not written into the will, but put into trust afterwards (Post Death)- OR will go for it and that can include in court
Tim
That's exactly what we did with our will. Obviously it falls to the will maker to decide to do this.0 -
Thanks B&BB - so out of interest, is there anyone on here that this has happened to and if so what was the outcome, was anyone allowed to keep any?0
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