Hi gresgow

Unfortunately no. The trustee has an interest in the full value of your inheritance and the only option would be for a third party to pay a sum equal to that value.

As you have not yet inherited the estate, then the only way to avoid the trustee claiming an interest would be a change of beneficiary before you inherit this.

Mark

Thanks Mark

That is what I thought would be the case.

If I stop paying contributions to my TD and my trustee moves to sequestrate, what would the position be with regards to the house then?

What would happen if I did not declare the inheritance to my trustee? Is there a way for them to find out?

I don't wish to put anyone in a difficult position by discussing this.

Hi gresgow

The same would apply in sequestration.

The inhibition in the trust deed would stop you doing anything with the house and any legal aspect involved would normally check inhibitions and adjudications register which would show up.

Mark

Thanks Mark

I suspected that would be the answer.

If I stopped paying contributions to my TD and my trustee moved to sequestrate what would be the position as regards the house.

If I did not declare the inheritance to my trustee what would the consequences be? How would they find out?

I don't want to put anyone in a difficult position by asking questions such as these.

Sorry

I just posted the same question twice.

Mark

Sorry about my ignorance

"The inhibition in the trust deed would stop you doing anything with the house and any legal aspect involved would normally check inhibitions and adjudications register which would show up".

Can you explain what that means exactly?

Hi Gresgow

Sorry a wee bit techie for my own good.

When you sign a trust deed, one of the forms is form 13 which is called a notice of inhibition. It's sent to the registers of inhibitions and adjudications and its effect is to stop you selling or dealing with property. Solicitors check this in every house sale before it concludes.

The persons name is recorded and would show up on searching.

Hopefully this clarifies things.

Mark

Just been on google

Just to clarify I have no interest in selling the house. I just want to be able to continue to live in it and am worried that I will be forced to sell to satisfy creditors.

In a bit of a panic.

Help

Hi gresgow

Doesn't matter, there will be a will and where there's a will, there's normally a lawyer or similar who as a matter of course would check this. It always comes out in the end.

Change of beneficiary is the only option.

Mark

Does this mean that I would be forced to sell the house to satisfy the debts?

Change of beneficiary is not an option I don't think as grandmother has dementia and is not able to do this. Is there anything I can do?

Should I contact my IP annonymously or otherwise.

Really worried now

Hi gresgow

If you inherit it before your discharge, then it comes under the control of your trustee as an asset and it would be up to him to decide what to do with it unfortunately.

There is a legal undertaking to notify your trustee.

Mark

Just phoned my IP to ask about this situation. I have now been put at ease a little as I have been told that selling the house would be done as a last resort.

On the one hand I obviously don't want the worst to happen and the inheritance to be realised any time soon.

On the other hand it is looking more likely that the inheritance will be realised within my TD period and only then will I know what the outcome to this scenario will be.

Hi Gresgow

As your Grandmothers estate is still your Grandmothers it is within her rights to will it to someone else.

Is there a family member you would trust to sign the estate over to you when you have been discharged from your PTD if the estate was willed to them instead of you?

Regards,
PB

Hi Poorboy

As I said earlier in the post changing beneficiaries is not an option I think as my Grandmother has dementia and legally cannot consent to this.

Even if it was possible I do not wish for my family to find out about my debts as I am very ashamed about the whole episode.