Bankruptcy and Will

SIM

My brother went Bankrupt in June 2019. My question relates to my mum's will. She is only 72 and is unlikely to be going anywhere soon however her Will currently names both myself and brother as beneficiaries (of a very small estate).

If she were to pass away before my brother is discharged, would the OR take any money to pay for BR debts?

If so, should she amend her will so that he is no longer named as a beneficiary?

After discharge, could she then amend it back to the previous will?

What's the best/most cost effective way to do this?

Any advice would be greatly appreciated!!!

luvchocolate

Your brother should be discharged now. It happens automatically after 1 year.
Unless you meant his BR was June this year and not last year as stated

SIM

Sorry, wrong date....It should have said June 2019! So he will be discharged in June 2020!

Minkym00

Whilst your brother is bankrupt the Official Receiver is his trustee and will claim any bequest received as an asset in bankruptcy. Once he is discharge next year the OR has no claim on it.

So your suggestion of changing the will and then changing it back after discharge is sensible to protect him should the worst happen.

SIM

Thanks for that.

Anyone have experience or know the best way to do that?

luvchocolate

See a solicitor...change will.... then change back after discharge