Payment of inheritance to a person discharged of Bankruptcy
February 11th, 2009 by Questions
I am an executor of my Mom`s estate. My sister is one of the beneficiaries. She filed for Bankruptcy in Jan 06, my Mom passed away Jun 06, my sisters bankruptcy was discharged in Jan 07. My Mom`s house in Parksville was sold in Dec 07, Tax returns filed in 08 and tax clearance certificate due any day now.
My sister lives in Parksville and bankruptcy was for under $10,000 and inheritance for my sister is approx $25,000 of which $10,000 has been paid to her. Before I distribute the final amounts my questions are as follows:
1. What are my obligations to the trustee – if any?
2. Can I safely distribute the remaining funds?
3. If there is an obligation is it just for the Bankruptcy amount or for what inheritance is remaining?
Posted from: British Columbia