Bankrupts Watch Out With Wills

There are very few instances in family life that gets so serious that anyone needs to recourse to the law.   There might be a tiff over a family will – that usually involved the oslicitor to start with but if the family has tried to save a few pounds and wants to distribute the family jewels themslves as executors to the will, woe betide the members who overlook any part of the process.  Any one of the legatees or residual beneficiaries could then turn round after distribution and make a personal claim against the executors.   There are certain tasks that have to be done – reporting tax payments, ensuring that none of the beneficiaries, named or otherwise, are bankrupts art the time of distribution.    This might seem like a bit of big brother, but many folk do declare bankruptcy, thinking they will obsoilve themselves of a particular debt or several debts.   Any debts have to be declared and paid out of their share of the will before they can have any personal gain.  Fairs fair . . .