The answer is No. It is a common misconception that when a person dies their debts die with them.
When a person dies their debts are paid off from their assets at the time of death. If their debt exceeds their available assets then the estate will be insolvent.
When the estate of the deceased is insolvent, gifts and legacies cannot be distributed to the beneficiaries under the Will.
A member of your family, your partner, a friend or solicitor may act as your executor. The executor must be …
Read more Wills & ProbateYou should both make Wills to ensure a fair division of assets if one of you dies shortly after the …
Read more Wills & ProbateConsider giving your wife a lifetime right to benefit from your estate. This will enable her to carry on living …
Read more Wills & ProbateMarriage will cancel your Will unless it was prepared in expectation of the event. Getting divorced will not cancel your …
Read more Wills & ProbateAn executor is responsible for looking after your money, property and other assets after your death and carrying out the …
Read more Wills & ProbateYes, the solicitor is allowed to charge reasonable costs for acting as an executor. The usual charges are between 1½ …
Read more Wills & ProbateYes. You and your spouse/civil partner can make separate Wills. We offer both Single Will and Mirror Wills options. The …
Read more Wills & ProbateNo, you do not have to act as an Executor. You have a couple of options. Your first option is …
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