QLD Inheritance and Bankruptcy

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Amiee

Member
6 October 2017
1
0
1
Unfortunately my father recently passed away. He left his estate to all his children to be shared equally.
One of the siblings is half way through a 3yr bankruptcy. This sibling has asked all other siblings to wait 2yrs before distributing the whole estate including all money & assets as the said sibling is under the impression that they will then be able to keep their inheritance and not have to give to their trustee.
My question is? Is this true? If we all wait 2yrs for our sibling to be discharged from their bankruptcy will they get to keep their inheritance or will it go back to the date of death and our sibling still lose their inheritance regardless? Everything I have read says they will still loose it but the said sibling continues to tell us otherwise. Need some sort of clarification. Thanks
 

Clancy

Well-Known Member
6 April 2016
973
69
2,289
I think the safest route is that the bankruptcy sibling simply decline their share of the inheritance (i am assuming that's possible) and trust that you guys will somehow make up for it in future years.

And trust is required because it would probably be illegal to have any specific arrangement in place :)