Inheritance whilst in an IVA

Get expert opinion. This is the place for new questions to be posted.
3 posts Page 1 of 1
User avatar
julie347
Posts: 1
by julie347 » Thu May 10, 2018 11:17 am
I may or may not inherit from my elderly father during the course of my IVA. He certainly would not want his estate to pay off my debts and he would be furious if he thought that would be the case after he dies. Being proactive can he just write me out of his will?
User avatar
Foggy
Forum Expert
Posts: 26872
Contact
by Foggy » Thu May 10, 2018 11:45 am
He can write you out of the will, or pass your share to, say, a sibling and the sibling give it back after the IVA --- This would be a private matter of trust between the sibling and yourself and wouldn't be mentioned in those terms in the will, nor would it's return to you be enforceable should said sibling run off with the money!

It is possible for an insolvency clause to be inserted, whereby any bequest to an insolvent is placed in trust until matters are sorted out but this would be a matter for a lawyer experienced in such things to sort out as it is a complex area (and probably expensive).
User avatar
MerlinL14
Posts: 1437
by MerlinL14 » Thu May 10, 2018 5:46 pm
I hope you have a trustworthy sibling!
3 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”

Who is online

Users browsing this forum: No registered users and 28 guests