Can Bank take ALL estates money if Joint executor is bankrupt

HighlandJoe

Hi there!

I had a previous post where my Brother is joint executor and due to my ill health (Chemo) at the time he took control and paid out the property monies into his account.

Fast forward I am now asking to distribute the estate as the property sold and debts are all paid. Pressure is also coming from beneficiaries whom are also asking for statment of accounts.

He has not responded to my request until now and ignored any written request for statements of accounts. He has now declared he has gone bankrupt in this time and says the money is not accessible to him as it was in his current accounts which are all frozen. He has threatened suicide and says the money cannot be distributed and is gone.

Obviously I am liable for this money going missing as much as he is. Can a bank really take an estates fund with bankruptcy of a joint executor(even though it doesn't belong to executor)?

Personally i think hes spent it on gambling and spinning a web of lies, but have no proof.

TIA

Marcon

HighlandJoe said:

Can a bank really take an estates fund with bankruptcy of a joint executor(even though it doesn't belong to executor)?

No, provided there is a paper trail to demonstrate where the funds came from (and there is likely to be, given a property's been sold. The bigger problem is where the money has been spent and the person holding the cash has gone bankrupt.

Definitely one where you need urgent legal advice.

xylophone

https://www.hughjames.com/blog/how-does-bankruptcy-affect-an-inheritance#:~:text=If an executor is bankrupt,reserved to him as an
Have you checked for bankruptcy?

Brynsam

HighlandJoe said:

Hi there!

I had a previous post where my Brother is joint executor and due to my ill health (Chemo) at the time he took control and paid out the property monies into his account.

Fast forward I am now asking to distribute the estate as the property sold and debts are all paid. Pressure is also coming from beneficiaries whom are also asking for statment of accounts.

He has not responded to my request until now and ignored any written request for statements of accounts. He has now declared he has gone bankrupt in this time and says the money is not accessible to him as it was in his current accounts which are all frozen. He has threatened suicide and says the money cannot be distributed and is gone.

Obviously I am liable for this money going missing as much as he is. Can a bank really take an estates fund with bankruptcy of a joint executor(even though it doesn't belong to executor)?

Personally i think hes spent it on gambling and spinning a web of lies, but have no proof.

TIA

The timing of his bankruptcy is crucial here - your post suggests he has simply helped himself, spent it and then gone bankrupt? Whether or not that's a correct conclusion, you need specialist legal help without delay.