In the UK does the executor of a will search to see if the beneficiary has any debts, before making a payment,?
Oct.31, 2009 in
Bankruptcy
being legally obliged to pay the beneficiary’s creditors out of his payment before anything goes to him…..or is the search confined to a record of bankrupcy and/or ccj’s?
October 31st, 2009 at 10:05 pm
I doubt it. You are obliged to pay to the beneficiary. The people they owe money to have nothing to do with it, and that is not your problem. It is up to them to pay their debts off.
October 31st, 2009 at 10:05 pm
The beneficiary’s debts has nothing to do with anything
October 31st, 2009 at 10:05 pm
I think you are obliged to pay.
There is an alternative to Bankruptcy, which is known as an IVA (individual voluntary arrangement).
I dont know If this is suitable for you as I dont know the ins and outs of your case.
Free IVA Info
http://individualvoluntaryarrangement1.blogspot.com/