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JGM
JGM, Solicitor
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Experience:  30 years as a practising solicitor.
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When is the legal date of entitlement to an inheritance of

Customer Question

When is the legal date of entitlement to an inheritance of money/property classed as for a beneficiary of a will in England?
Is it the date of death that one becomes entitled to inherit or is it at the date of probate of some other date?
I ask as I am in an IVA which had almost concluded, yet between the final payment and the certificate of completion being issued, a relative died and I am named in the will as a beneficiary.
The wording in the agreement says if I "become entitled to any inheritance during the course of the agreement" then it must be paid into the agreement.
The insolvency practitioner says that this inheritance should form part of the agreement and be paid into the IVA, yet probate has not been granted at this stage and I argue that the certificate should be issued as I have filled my agreed obligations in full and I'm not legally entitled at this point to any inheritance as probate has not established the validity of the will etc. and that the IP is now just sitting and leaving the agreement open to capture anything which I may become entitled to when probate is granted.
Submitted: 8 months ago.
Category: Law
Customer: replied 8 months ago.
The specific wording of the agreement in regard to this is :Should the debtor become receive or become enititled to any windfall for inheritance payment with a value of more than £500, during the course of the arrangement which would be deemed after acquired assets within the meaning of section 307 of the insolvency act 1986, it must be paid or transferred to the supervisor for the benefit of the creditors in the arrangement.I guess my argument for issuing the certificate now and closing this off hinges on the "legal date of entitlement' to the inheritance.Please quote links to any external, credible, sources which may confirm that the date is not the date of death but probate or some other date
Expert:  JGM replied 8 months ago.
The date of your entitlement is the date of death, I'm afraid.
Customer: replied 8 months ago.
Thanks, ***** ***** give me a link to somewhere credible online that expands on this? - I've been unable to find anything one way or the other online about legal entitlement to inherit date, yet I've had confirmation from another insolvency practitioner that the legal entitlement is date of probate, as anything prior to that is merely an unsubstantiated claim on the estate and only proven via the probate process and that once probate is granted, then I have a legal entitlement to monies or property etc. Sadly that IP is not the one dealing with my case.
Expert:  JGM replied 8 months ago.
Here is a law society paper which gives reference to the various insolvency provisions: http://www.lawsociety.org.uk/support-services/advice/practice-notes/bankrupt-beneficiaries/

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