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VIC Beneficiary of Inheritance in Bankruptcy

Discussion in 'Wills and Estate Planning Law Forum' started by JGB, 20 August 2015.

  1. JGB

    JGB Member

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    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.
     
  2. Pete Evans

    Pete Evans Well-Known Member

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    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
     
  3. winston wolf

    winston wolf Well-Known Member

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