My IVA finished in 2011. If I now receive any inheritance could I keep it ? Y

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Leigh.tn
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by Leigh.tn » Tue Oct 24, 2017 6:50 pm
my iva finished in 2011 and I received my completion cert in 2012 my question now is as I received PPi's and paid money back to the IVA company if I now receive any inheritance would the iva company receive the money instead of myself
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Foggy
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by Foggy » Tue Oct 24, 2017 6:55 pm
Leigh.tn wrote:
my iva finished in 2011 and I received my completion cert in 2012 my question now is as I received PPi's and paid money back to the IVA company if I now receive any inheritance would the iva company receive the money instead of myself


As long as the person giving the inheritance passed after the completion certificate was issued it is nothing to do with the IP. The reason PPI is still theirs is because ( although you didn't know about it) it exisited during your IVA.
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luluj
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by luluj » Wed Oct 25, 2017 11:53 am
Yes !

Its yours to keep so long as it became known AFTER the completion certificate was received !
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Foggy
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by Foggy » Wed Oct 25, 2017 2:07 pm
luluj wrote:
Yes !

Its yours to keep so long as it became known AFTER the completion certificate was received !



The point at which an inheritance becomes yours, as far as the IVA is concerned, it seems, is the date of passing, not the date you become aware of the bequest. So the donor must pass after the issue of the completion certificate for the inheritance to be free of the IVA.

My personal opinion, and one I would fight for were I in that position, is that you do not become eligible to receive any bequest until at least probate is granted and the will proved and accepted as valid. Only then, at the executor's behest, do you become eligible to receive anything.
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