NSW Inheritance and bankruptcy

Discussion in 'Debt and Bankruptcy Law Forum' started by Toma, 29 September 2018.

  1. Toma

    Toma Member

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    I want to know if i have rigt to decline any inheritance during my bankruptcy so my portion will go to other beneficiaries in order to prevent my share being taken by my trustee
    Thanks
     
  2. Rob Legat - SBPL

    LawTap Verified

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    No. To decline it you must first have the right to partake in it. While you are bankrupt, all of your estate is vested in the bankruptcy trustee and it is their decision to make.

    Any attempt to do so can be considered an attempt to defraud creditors - and the charge can be made against you and the executors of the estate.

    Penalties can be stiff - up to 5 year imprisonment for concealing with intent to defraud creditors.
     
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  3. Toma

    Toma Member

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    What would happen if my father listed my sister and brother as the only beneficiaries.
    I know i trust them and they will give my part once i discharged.

    Can trustee still claim anything even if i am not listed as beneficiary?
    Thanks
     
  4. Toma

    Toma Member

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    What would happen if my father listed my sister and brother as the only beneficiaries.
    I know i trust them and they will give my part once i discharged.

    Can trustee still claim anything even if i am not listed as beneficiary?
    Thanks

    QUOTE="Rob Legat - SBPL, post: 68461, member: 14710"]No. To decline it you must first have the right to partake in it. While you are bankrupt, all of your estate is vested in the bankruptcy trustee and it is their decision to make.

    Any attempt to do so can be considered an attempt to defraud creditors - and the charge can be made against you and the executors of the estate.

    Penalties can be stiff - up to 5 year imprisonment for concealing with intent to defraud creditors.[/QUOTE]
     
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