Inheritance and will

maxmycardagain

Does a BR have to declare any interest due to them in a will when applying to go BR or is it only to be declared as/when the money becomes payable from the estate?

FabFifty

Only relevant as and when the money is actually paid to the beneficiary.

broaps

Hi Max

My understanding is that the OR has an interest if the death which leads to the inheritance is before or during the (year of the) bankruptcy. For example, if a person dies before you become BR but you haven't received the inheritance for some reason you will have to pay it over whenever you receive it However, if you are mentioned in someone's will and they are still alive and likely to remain so until after discharge from BR they are not interested. Let's face it, a will can be changed at any time so it certainly can't be counted as an asset so no need to tell the OR. If you receive an inheritance after discharge this is yours to keep. If you are paying an IPA and you invest your inheritance to create an income this will increase the amount payable for the IPA for the rest of the 3 years.

silvercar

https://debtcamel.co.uk/inherit-money-bankrupt/