Does an executor need to know you're bankrupt?

elljay

Evening all,

I am 10 months into my bankruptcy but my aunt is seriously ill and very elderly and really not expected to live for more than a few weeks. I know I have been named in the will, not for any amount of money, probably just for a keepsake. Her son is the executor. Does he need to know I'm bankrupt or is he likely to find out by some means?

Thanks

EJ

Deep_In_Debt

When I received a small inheritance some time back from an elderly aunt, I remember the Executor (who was the solicitor) did BR and insolvency checks before I received my legacy.

mwarby

Your name will be on the insolvency register(until 3 or 6 months after discharge) and in the gazette(forever), so he can find out and may have a duty to check (maybe this depends on value of her estate)

If the keepsake is of low value you might be allowed to keep it, if it's valuable it may need to be sold

It's perhaps not too late to ensure your aunts wishes are taken into account(she probably wouldn't want her legacy voting to insolvency service). I think there is some wording (trust maybe)which prevents the legacy being available for bankruptcy

elljay

Thank you both. I think it's likely to be a little ornament that I used to admire as a child. It's nothing of any value whatsoever, I think it came from a Southend seafront shop. I know that if I was left any money or even a gift with any value, that I need to declare it if she dies before my AD - it's just I'd rather her son didn't know. It wouldn't occur to him to check the Gazette unless he had to. But it sounds like he will have to.

In that case I'd rather tell him myself when the time comes rather than have him find out.

Many thanks.

EJ

mwarby

He may not have to, for the item you describe, I was being careful incase keepsake meant a antique or jewelery etc. It wouldn't surprise me if no checks were done on you at all