How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Daniel Your Own Question
Daniel, Solicitor
Category: Australia Law
Satisfied Customers: 5594
Experience:  Bachelor of Laws (dist) Graduate Diploma in Legal Practise. Admitted NSW Supreme Court / High Court
Type Your Australia Law Question Here...
Daniel is online now
A new question is answered every 9 seconds

I am about to distribute money from an estate. One of the

Customer Question

I am about to distribute money from an estate. One of the benefactors is bankrupt. Do I do as the will and codicil say before sending money to the trustee
JA: What state are you in? And has anything been officially filed?
Customer: NSW yes all paperwork has been filed
JA: Has anything been filed or reported?
Customer: The bankruptcy trustee has been informed
JA: Anything else you want the lawyer to know before I connect you?
Customer: not really
Submitted: 9 months ago.
Category: Australia Law
Expert:  Daniel replied 9 months ago.


Well the issue here is that you need to adhere to the will requirements.

BUT, you can perhaps keep the monies in trust and then have it given to the beneficiary after bankrupcy.

Issue is however, if I were a creditor, it be having a bit of a look at any finances that the person has, so it is a commercial decision for you.

In practice, for many reasons clients make agreements for such things. Holding of on getting monies till after a situation, perhaps a divorce, bankruptcy, debts etc, so it does happen.
I suspect there is no time frame stipulated in the will, just for 'person a, b, c to get stuff' so that may not be a factor.

I wish to assist you.

Please click accept / rate my service. I am able to answer further questions after doing so at no further cost to you.