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ala
Junior Member
171 Posts |
 Posted - 14 May 2008 : 14:34:13
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I was declared bankrupt on 3rd March 2008. Prior to this, I had learnt verbally that I would be receiving part of the inheritance estate of a relative. I informed the official receiver of this. Am I entitled to keep any of the inheritance money if I am officially in receipt of funds either during my bankruptcy period or after discharge?
The or said that I would not receive a penny. However, I have still not officially received any monies during my bankruptcy and may not receive funds until after my discharge.
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 14 May 2008 : 16:57:37
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The inheritance would belong to the OR, even if you don't actually receive it until after you are discharged.
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/ |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 14 May 2008 : 19:53:24
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Hi ala,
Skippy is correct unfortunately as far as your Bankruptcy is concerned the inheritance is classed as your the moment your relative died regardless of how long it takes for you to receive funds.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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hammy0107
Junior Member
399 Posts |
Posted - 15 May 2008 : 09:21:57
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| Purely hypethetical question but how does the OR know if you receive an inheritance? I know in this instance the OR has been informed but if they hadn't, how do they find out? |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 15 May 2008 : 09:27:51
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Hi Hammy,
It would depend on them being made aware.
Under the windfall provisions in Bankruptcy you are supposed to inform them if you receive any lump sums.
If you do not declare the inheritance you will be committing an offence and if later uncovered by the OR you could be prosecuted.
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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Am I entitled to keep any of the inheritance money
