QLD Beneficiary of a Deceased Estate - Consequences as a Discharged Bankrupt?

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CuriousAussie

Member
17 July 2018
1
0
1
Hi

I am apparently the beneficiary of a deceased estate of a cousin I hadn't seen in 35 years. I have been sent a form by the Public Trustee and one of the questions is, have you ever been declared bankrupt?

I have been, in 2012 and was discharged in 2015. It wasn't a major bankruptcy (not the right term but I mean not $100,000's, probably under $20K in credit cards - no house, etc ).

I have no idea the amount of the benefit from the will (could be nothing at all really), but will any money be made to pay back the original creditors?

Just curious and a bit confused.
 

Glenn Thexton

Lawyer
20 October 2016
38
7
149
www.thextonlawyers.com.au
Hi,

As you have been discharged any assets acquired after discharge vest in you and not the trustee. This means you will get to keep the inheritance. If you have outstanding income contributions from the time when you were undischarged you will still be required to pay those. But I doubt you have outstanding contributions as if you did, it is likely the trustee would have extended your bankruptcy which has not happened.