Considerations in Will Drafting and Estate Administration

  • 1 min read

If the beneficiary of an estate has been declared bankrupt then dependent on when the bankruptcy order was made and the entitlement in the estate arose, it might be the case that the inheritance will be subject to a claim by the trustee in bankruptcy.

Executors of an estate should undertake a bankruptcy search against beneficiaries before making any distribution to ensure that the funds are correctly payable to the beneficiary.

If a beneficiary has been declared bankrupt, then the executors should request confirmation from their trustee in bankruptcy that the funds will not be subject to a claim before making the distribution to the beneficiary.

Changes in a beneficiaries personal circumstances (Financial/ Matrimonial) are a reason for reviewing the provisions in your Will.


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