Hi,I am in what would happen if i refused inheritance?

[orange]

i agree we should pay back what we can.shame the bankers and mps dont have to play the same rules

[ivas4us]

I am afraid not. What a shame this stipulation was not made clearer, but even then I think it would still be caught by the windfall provision.

Melanie, if the person leaving the money has stipulated verbally what it should be used for then what is the difference between this and a verbal contract. I know a verbal contract can be enforced and can't see why that couldn't be the case here. Forgive me if I sound padantic but would just like to know the reason why.

[ivas4us]

It sounds awful if somebody leaves you some money and stipulates what you are to use it for and then you use it for something else. Would this not be dishonest to the person that has left the money for you as I am sure if they knew that is what would happen with thier money then they would have left it to someone else or a charity.

[Michael Peoples]

If the money was to be used to a specific purpose that should have been made clear in the will. Even so I agree with Melanie that it could still be captured by the windfall clause. Would it be fair to creditors if the will stated that the funds were to be used for the client to go on a round the world cruise?

[kallis3]

With a verbal contract such as this one, there is only one person to confirm what was said - the other one is sadly no longer with us.

We could all say that we had been left money for a specific purpose, if indeed we were ever left any money.

I agree with Michael that it should have been stipulated in the will.

[MelanieGiles]

You cannot have a verbal will, ivas4us. That is why people who die without making a will die intestate, and the laws of the land stipulate the priority in which the monies are distributed.

When you borrow money you do so with the intention of repaying it - at least the vast majority of us do. This view should not change just because your fortunes do.

[Max]

Absolutely - my husband wishes he could repay 100% plus interest; debts have to be repaid - moral and financial! Don't forget creditors can challenge a Will and would no doubt do so if it were to their advantage. J

[kallis3]

Hear, hear J!

[ivas4us]

You cannot have a verbal will, ivas4us. That is why people who die without making a will die intestate, and the laws of the land stipulate the priority in which the monies are distributed.

When you borrow money you do so with the intention of repaying it - at least the vast majority of us do. This view should not change just because your fortunes do.

Sorry Melanie if my post sounded a bit off it was never meant to be and I should have thought about intestate. I think what I have actually done is compared apples with pears but thanks for clearing this up and please ignore my comments as I can see they are wrong upon reflection. My thoughts sounded good for a while whilst I was barking up the wrong tree.

[MelanieGiles]

Your post did not sound off at all Paul. It was a reasoned and balanced argument and raised some good points. This forum is about debate, debate is healthy in any environment, and you should never need to apologise to me for any of your comments. Unless you comment about the state of Welsh Rugby of course, and then I will tell you off!

[ivas4us]

I know very little about debt issues other than I have a lot of it and what I have learnt on the forum. I know absolutely nothing about rugby at all so you are very safe from my comments. When I see things discussed on the forum that I am not sure about I have to ask to get things clear in my mind and sometimes I know what I am trying to say but not sure if I sound offensive or padantic but I just need to know when I am not sure otherwise I would sit thinking about it until it became clear.

[MelanieGiles]

Just remember Paul, that you are the spokesmen for the many forum members who never post but probably want to know exactly the same question you post. Never, ever be afraid to ask something - I really enjoy sharing my knowledge and experiences with you.

[ivas4us]

thank you Melanie, the forum has been very supportive of both wonder and I, particularly over the last week and have been posting a bit sporadic lately but I have had a lot of other things to get on with. I have law exams in September so really need to get my head into gear as failure is not an option as it would mean me having to leave the course so my posts might be on the low side over the next 5 to 6 weeks.