| T O P I C R E V I E W |
| acm |
Posted - 27 November 2009 : 22:47:26
Hypothetically speaking. If someone is near the end of their BK and hears by word of mouth that there may be a small inheritance coming their way but they have not been informed in writing by any party whatsoever and have had no verbal conversation with any solicitors either and it would probably be after discharge before anything was put in writing, then would it not be feasible for the said person to put his head in the sand and pretend he is in la la land and keep this knowledge to himself? |
| 15 L A T E S T R E P L I E S (Newest First) |
| leakie |
Posted - 30 November 2009 : 18:13:31
Hi all
My understanding is the same
if the person dies before BR then the asset becomes the property of the OR,
However, if your inheritance has been put in trust then it can not be touched by the OR,
But I stand corrected,
This was the advise to an old aunt, from her solicitor
All the best
Leakie |
| debtinfo |
Posted - 28 November 2009 : 14:49:41
dont worry, there are a thousand and one rules and regulations and if's and buts when it come to insolvency regulations |
| acm |
Posted - 28 November 2009 : 14:45:08
Ah, now thats clearer, thanks. Didnt want you to think I was trying to avoid or mislead but but for someone to die and family inherit and it all takes place after discharge then he does not have to notify the OR. However someone dies before BR and you are not aware and are legally notified after your discharge then that money goes to OR. Wow. |
| chester2005 |
Posted - 28 November 2009 : 14:25:08
there was a case like this in the high court... the person involved was made BR again by the OR after discharge because he inherited a lot of money after discharge but the peron who died had died something like a week before discharge. the man didn't know and was only contacted after discharge.
the OR has an indefinite period of time to claim back anything that was officially his from before BR or before discharge.
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
| Niobe |
Posted - 28 November 2009 : 14:22:17
debtinfo is correct.
If the inheritance is from before the BR, then it must be included in it. If the inheritance is after you have been discharged, then the OR cannot claim it.
You should not be burying your head in the sand, the OR can find out and it is better to come clean.
The glimmer gets brighter all the time
Jan
xx |
| debtinfo |
Posted - 28 November 2009 : 14:09:34
Hi ACM, The point is this. The date that you inherit is not when you get the money or when you are informed. The date you inherit is the day the person died. Since the date that the person died is before the day of the bankruptcy order then it is an asset in the bankruptcy and must be handed over to the OR |
| acm |
Posted - 28 November 2009 : 14:05:42
I think I am getting confused again. I thought that if you were out of bankruptcy and you got a windfall big or small then it was yours to keep. I can understand and accept if this all happened during BK but if it was several years ago when the individual died and I was not aware of it then I go through my BK period and then a solicitor contacts me for the first time after I have been discharged and his records show this then frankly I do not see where the issue is. Looks like this one will go round and round. Time to get off the roundabout. Thank you for your advice. |
| chester2005 |
Posted - 28 November 2009 : 12:36:49
i was merely stating the facts as i saw them to be...
However i do not condone the idea of hiding anything from the OR as he has an indefinite period of time in which to overturn and right wrongs that occurred during BR
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
| Skippy |
Posted - 28 November 2009 : 10:26:51
Same here - if I'd won the lottery I would have definitely paid everything off.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
28 IPA payments made, 8 to go - in single figures! |
| Niobe |
Posted - 28 November 2009 : 10:12:18
Personally, if I had enough to do all that and have the BR annulled, I'd prefer to do that so I had nothing hanging over my head in the future.
The glimmer gets brighter all the time
Jan
xx |
| Skippy |
Posted - 28 November 2009 : 10:09:11
We shouldn't be implying that it's ok to hide something from the OR.
As I said before inheritances are a matter of public record so it would be easy enough for the OR to find out.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/
28 IPA payments made, 8 to go - in single figures! |
| chester2005 |
Posted - 28 November 2009 : 00:15:47
officially then whether you knew about it or not anything coming to you became the ORs when you became BR
if the amount was enough to clear your pre-BR debts and pay the ORs fees then you would get the balance and your BR could be annulled.
realistically.... if you didn't know about it the OR will not know about it and he is unlikely to find out about it unless someone tells him... especially post discharge
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
| acm |
Posted - 28 November 2009 : 00:01:01
Thanks Chester
That makes things interesting as the person in question died several years ago and there are very distant relatives all around the world which are being contacted. However, I am led to believe the search has nearly ended. As I said before, no one has made contact with me at all. |
| chester2005 |
Posted - 27 November 2009 : 23:51:55
it depends when the death was, as that is the time that you inherit anything not when you are told about it.
if the person died whilst you were undischarged then officially it is not yours it is the ORs asset which you waived all rights to during BR when you became BR
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
| acm |
Posted - 27 November 2009 : 23:42:24
Hi, with respect I think you are missing the point. I will re-phrase the question. If AFTER discharge from BK i was officially notified for the FIRST time by a solicitor that I had come into some money then I assume I have nothing to declare to anyone. |
