inheriting money afterbankruptcy
If i inherit money after the Inland revenue bankrupted me will they try to claim any of it
This can be dangerous for a person where he admit bankruptcy and finally he got inheriting money.
Here's what the bankruptcy advisory service says on the matter:
"If a bankrupt person inherits during bankruptcy, that inheritance will be seized for the benefit of creditors. It is therefore vital that anyone who feels there is a chance of this happening, should take the appropriate steps to have that Will changed.
In a similar vein, any lottery winnings, for example, would be seized by the Official Receiver/Trustee in Bankruptcy.
If, of course, the inheritance/win was in excess of the debts and costs of the bankruptcy, then the balance would be returned to the debtor who could then apply to have his/her bankruptcy annulled.
Any inheritance/windfall after discharge does not vest in the Official Receiver/Trustee in Bankruptcy and may be kept by the discharged bankrupt person."
-FindLaw Moderation Team
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