Hi, I'm an executor, my sister who is a beneficiary is in an iva. Apparently this finishers end of dec, however we are due to release money but now she has turned nasty accusing us of not keeping her update, and involved a solicitor. I believe this to be purely a delay tactic. Is the beneficiary entitled to money from date of dads death which would of been in March or is it from when probate has been granted. Also are we as executors liable if she does not declare to her ip that she is due inheritance. Thankyou
Your sister should have notified her insolvency practitioner as soon as she became aware of the inheritance. The money almost certainly belongs to her creditors but you should consider legal advice to protect your position.
I understand you possibly have a duty to pay the monies direct to the IP knowing that there's an IVA in place. I agree with Michael that you should take advice from a lawyer, preferably an insolvency specialist. I know some that can help if needs be.
