VIC Beneficiary of Inheritance in Bankruptcy

[JGB]

Hello, my partner who is in bankruptcy at the moment has been left some money from her father who has just passed away. Is she required to give this inheritance money to bankruptcy. I believe that the will states that the money is to be given to a trustee (her uncle) and the funds distributed by him to the beneficiary when he sees fit.

Thank you.

 

[Pete Evans]

Hi JGB, I'm not qualified to answer and it will be interesting if any of the qualified legal fraternity offers up a comment .

But wouldn't it be logical to wait for the bankruptcy time limit to expire before accepting the funds from the trustee?

I think the exact wording of the will needs to come from the beneficiary and not a second party . Distributions from wills can and do take several years so would that be time enough for your partner to come out of bankruptcy?

Good luck and cheers

 

[winston wolf]

Tracy B gave a detailed answer to as similar question here QLD - Bankruptcy - Joint Title Holder and Beneficiaries? | LawAnswers.com.au

In brief the bankruptcy trustee has a claim on her share.
Just because she hasn't received her share it is still hers and therefor available to pay here debt.

Cheers