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Inheritance

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  • 13-12-2014 8:31pm
    #1
    Suey
    Registered Users Posts: 10 ✭


    Hi , if someone is left an inheritance of a small amount and has debtors and is going into an DSA ( debt settlement agreement ) can the debtors take all or part of the money if it transferred to your account , like would revenue know about it and inform the other debtors ??
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    #2
    Peregrinus
    Registered Users Posts: 26,163 ✭✭✭✭Peregrinus


    Never mind the Revenue, you have to disclose it. YOu have to disclose all your financial affairs. If you don't adhere to the terms of a debt settlement arrangment, including disclosure, then it doesn't clear you debts, so even after you have paid the agreed amount if it turns out that you failed to disclose something material your creditors can still chase you for the unpaid balance of your debts. You might get away with not disclosing in practice, but if it goes wrong it goes badly wrong. You are potentially on the hook for much more than the amount of the inheritance.


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