Hi Beavis

Welcome to the forum.
As you inherited it while still in the Trust Deed. The Trustee can make a claim to the estate.
Although your Trust deed finished 6 weeks have you been formally discharged by receiving form 5.

Michael

Not been discharged yet never heard a thing from mazarrs since it finished

Hello Beavis and welcome.

In similar situations our experts have previously suggested that you check the terms of your own trust deed (they're not all the same).

However the fact that you became entitled to the money prior to completing your trust deed is likely to be unhelpful to you.

If you haven't been discharged that's also potentially unhelpful.

I have never told them about the money because I don't have it the solicitor says it could be another 12 weeks
I will check my terms Thanks

Hi Beavis

You will be discharged when you receive your form 5 from the Trustee. However under the terms you need to notify your Trustee if you inherit any Money whilst you are in The Trust Deed. If the solicitor involved has to send the money over to the Trustee then all debts would be cleared in full and anything remaining will be sent back to you.You could then get your credit file updated to show you have cleared the debt in full.

Michael
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Hi Beavis,

Unfortunately your Trustee will have a claim over this money. They will be required to pay your full debt plus statutory interest at 8% per annum plus any costs that they may have. As a result of this you could end up paying back slightly more than what you may be anticipating. As Michael has said once this is done any left over funds would be returned to you.

Your solicitor will probably notify the Trustee about the money.

Give Mazars a call to chase up your Form 5.

I'll ask the question as its a risky one.

Just say with a bit of luck Beavis was to be discharged and received form 5 next week, but did not get around notifying his/her trustee, can the trustee still pursue the money or does the usual principle apply ""once you have been discharged you have met your obligations""?

Is there any way the trustee would find out about any inheritance after discharge?,or even beforehand for that matter?

Hi.

Beavis should notify his/her trustee. This is the nature of the agreement that they voluntarily entered into.

Regards Form 5 we were told by an insolvency practitioner last night that it's the trustee's discharge that's relevant in these circumstances, not Form 5.

Hi Trust Deed Assistant
That's a bit of a shocker as the advice normally given here is that once you've received form 5 you can't be asked for more money. If that applies to all aquirenda then it would certainly explain trustees' reluctance to bring a TD to a conclusion.

Hi Snowball.

Beavis has become entitled to this inheritance before receiving their Form 5. That might explain the subtly different advice this time.