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Inheritance and bankruptcy
Sd15296
Posts: 6
Forumite
My father died in June 2022 but as my mother was entitled to live in the family home until she moved into a care home, an application for probate is only now being put in by me, my sister and my nephew as joint executors. However my nephew who is a an executor and beneficiary was made bankrupt in November 2022 and now he tells me he has been discharged from bankruptcy. Can someone tell me my responsibilities as an executor as regards my nephew's inheritance and bankruptcy. Does my nephew still inherit the money or should it go to his creditors? Also how can I check he has been discharged from bankruptcy ? Thank you.
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Comments
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England or Wales? If so search here for bankruptcy.
Search the bankruptcy and insolvency register - GOV.UK (www.gov.uk)
If you go down to the woods today you better not go alone.0 -
This is a duplicate thread. The OP might get some useful,advice from the bankruptcy sub- forum in Reduce Debt and Boost Income forumIf you've have not made a mistake, you've made nothing0
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If he was still in bankruptcy when your father died you should not pass on any of his inheritance it should go the the official receiver dealing with his cas.
I know he has been appointed as a co executor, but really he should not have any access to estate funds.1 -
Hi my father died in June 2022, my nephew was made bankrupt in November 2022, now my nephew is saying he was discharged from bankruptcy after 12 months i.e. Nov 2023.Does that mean he can now inherit the money or does he need the money to go to his creditors when the house eventually sells ?Keep_pedalling said:If he was still in bankruptcy when your father died you should not pass on any of his inheritance it should go the the official receiver dealing with his cas.
I know he has been appointed as a co executor, but really he should not have any access to estate funds.0 -
My understanding is that it is not when you actually receive the money but when your beneficiary died that counts, so his creditors should have a claim on it, but that may not be the case if your father’s entire estate was placed in an immediate post death interest trust for your mother. I think you should take legal advice on this.Sd15296 said:
Hi my father died in June 2022, my nephew was made bankrupt in November 2022, now my nephew is saying he was discharged from bankruptcy after 12 months i.e. Nov 2023.Does that mean he can now inherit the money or does he need the money to go to his creditors when the house eventually sells ?Keep_pedalling said:If he was still in bankruptcy when your father died you should not pass on any of his inheritance it should go the the official receiver dealing with his cas.
I know he has been appointed as a co executor, but really he should not have any access to estate funds.1
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