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robin1
Starting Member
5 Posts |
 Posted - 13 January 2009 : 21:20:10
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| I AM SOLE BENEFACTOR IN MOTHERS WILL. SHE IS IN GOOD HEALTH BUT ELDERLY. WOULD PUTTING HER ESTATE IN TRUST STOP ME LOSING IT IF THE WORST HAPPENS.. I HAVE NOT GONE BR BUT IT MAY BE A POSSIBILITY. ALSO WOULD IT ONLY BE A PROBLEM IF THE DEATH HAPPENED BEFORE DISCHARGE OR CAN IT BE EXTENDED WITH A BRU BRO...??? THANKS IN ADVANCE |
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John
New Member
United Kingdom
73 Posts |
Posted - 13 January 2009 : 22:18:14
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Hi
yes the inheritance would be protected in the event of bankruptcy if it were held in trust.
And yes again, once you are discharged any windfall is yours to keep.
One thought, one of the questions in section 8 asks "do you have an interest in any other property?" If your inheritance includes a property, and you already know you are the sole beneficiary then technically you should list the details.
However, if the trust was set up then it would then become unnecesary.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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leakie
Junior Member
United Kingdom
158 Posts |
Posted - 13 January 2009 : 23:24:21
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Hi all
I'm glad this was brought up, as I will be a beinfactor of a will ,
My aunt will be 89 this may, we are very close, so she knows about my situation, She spoke to her solicitor and he advised her to to the exact same thing.
all the best
Leakie |
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starting-again
Starting Member
United Kingdom
1 Posts |
Posted - 14 January 2009 : 21:28:51
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I am in a bit of a similar situation. My sister died in July with no will and I am the one who is sorting her estate. I have been advised to go BR but am worried that when the estate is sorted, if I've gone BR and it shows up, I will have to give it to creditors and have nothing left.
Can anyone help or give me some advice?
Thanks
It's never too late to start again |
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RHB
Senior Member
1159 Posts |
Posted - 15 January 2009 : 07:11:42
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| W#ould the money you'd inherit pay off your debts so there would be no need for you to dclare bankruptcy? |
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I AM SOLE BENEFACTOR IN MOTHERS WILL.
