if the IVA is incomplete at the time of death?

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ernie.a

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Post by ernie.a » Sun Jan 27, 2008 10:16 am
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Is there any claim on the estate if the IVA is incomplete at the time of death?
Can any claim be made against existing life insurance policies?
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MelanieGiles

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Post by MelanieGiles » Sun Jan 27, 2008 10:21 am
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Hi ernie

Yes - if you were to die when an IVA is still ongoing, the debts would fall into the deceased persons estate, and the estate would be realised to firstly pay off debts before any monies were available to beneficiaries. This would include any monies from life insurance policies, unless they were speficially assigned to a member of your family or a friend.
Regards, Melanie Giles, Insolvency Practitioner
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