guy

November 29th, 2008 by Questions

I am supposed to be discharged from bankruptcy in about 5 months. A member of my family has just died, and I am not sure if I am in the will. If the will is not read, or if I am not informed that I am a legatee until after my discharge, do I still have to pay my inheritance retroactively? That is, can they take all of it up to the amount owed. If they do is there also a charge on top of this? Or is it just straight debt payment?

Posted from: Quebec

Questions

One Response to “guy”



, A licensed trustee said:

The critical event is the time of death, not the reading of the will or the payment of any funds you may be entitled to receive. If you fail to notify your trustee and your trustee subsequently finds out about it your discharge may be refused (or annulled if it was already granted) and you may be subject to a fine and/or imprisonment for committing an offence under the Bankrutpcy and Insolvency Act.

Obviously it is up to you, but if the inheritence isn’t very large then do you want to risk having all of the debts that were listed in your bankruptcy re-activated? call your trustee…

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