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]
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.