inheriting money afterbankruptcy

[floridaphil]

If i inherit money after the Inland revenue bankrupted me will they try to claim any of it

[jaycube]

This can be dangerous for a person where he admit bankruptcy and finally he got inheriting money.

[FindLaw_Maya]

Hi floridaphil,

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."

Good luck,
-FindLaw Moderation Team