Can Problems At Work Mean You Can Lose An Inheritance?
Is it true that problems at work can mean you lose out on an inheritance? It’s not usually the case, but it is – sort of – what happened to a shamed former army officer recently.
Captain Michael Pain previously of the Royal Dragoon Guards, may well lose an inheritance. But why?
The former army officer had a very privileged upbringing, but this has not stopped him from wanting more. In 2010, he was convicted of conning his mother, Lady Denys Pain of Eddlethorpe Hall, out of almost £460,000. Under the Proceeds of Crime Act he was ordered to repay the money.
He was also jailed for three years for theft, fraud, and obtaining money transfer by deception.
At the time, he only had £166,000, so the courts understood he could not repay all of it. However, recently Pain received some shares from his uncle’s will, which amount to almost £28,000. The authorities, having heard about this, pressed on with the confiscation order, attempting to enforce it to include the new assets. In order to do this, an extension to the original order had to be made through the courts. If the extension is granted, Pain will need to repay the additional money to his mother’s estate as, sadly, she died just hours before the original order was granted.
The case has been adjourned for the moment because there seems to be an issue regarding a missing share certificate. Without this certificate it is impossible to realise the true value of the shares, and therefore impossible to create any extension to the original order.
The reason behind Pain’s initial deception seems to be that, after losing his commission in the army, he was in danger of also losing his house. In order to keep it, he swindled his mother out of the money. His sisters believed he was using the money to run the estate, but instead he was lining his own pockets.