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IVA and inheritance

3 replies

NameChangedForThisQuestionn · 13/03/2021 14:15

Just wondered if anyone can help,
I have an IVA, it was agreed in September 2020.
Rough value approx 25k. DH grandma has been poorly recently, there's been some family drama, meaning that he will get 50k in the will, but only 20k of that will actually be his, the rest will be his DM's but not in her name due to her dh. My question is, if DH grandma was to unfortunately pass in the next 6 years (she's 87) will I be expected to use DH's inheritance to pay it? Not all of the inheritance will actually be his, and it won't be enough to cover the Iva so would I need to provide proof of this too? I know I am massively over thinking, but I just can't help it. Thanks

OP posts:
Whatwhyhowwherewho · 13/03/2021 15:52

www.payplan.com/blog/can-an-iva-take-my-inheritance/

You will be expected to prioritise paying back the debts in your IVA, so any inheritance money you receive should go towards paying off this arrangement. If your inheritance can cover the entirety of your IVA debts, you will be expected to pay this off in full, along with any IVA fees

LaurieFairyCake · 13/03/2021 15:56

No, your IVA is just yours?

He doesn't have a joint IvA with you?

If the debt is all yours (business debt?) then the inheritance is all his I think

NameChangedForThisQuestionn · 13/03/2021 16:02

Iva is fully in my name only, only my debts not his. Inheritance will be only in his name.

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