FIVE REAL-LIFE EXAMPLES TOTALLING ALMOST $1 MILLION.
Worrells has written plenty of articles about after-acquired
property in bankruptcy and more generally, the risk to
inheritances. So, people may ask why we're writing another
article...
Well, it's being written as a reminder and a
warning to those considering bankruptcy,
or have a client considering bankruptcy, where there's a chance
that they or their client may receive an inheritance (otherwise
known as a bequest).
This reminder/warning may sound like "old
news", but it's evidently necessary as our little
office in Central Queensland has had a spate of bankrupts receive
an inheritance during their bankruptcy despite being careful to
advise them of the potential risks associated. In the last 12
months or so, our office has administered bankruptcies where
relatives unfortunately passed away, which enabled the following
recoveries:
