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.
This is the term used to cover everything that needs to be done to deal with an estate. It involves …
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 & ProbateNo, as long as you are the Executor or Administrator you can choose any solicitor you like.
Read more Wills & ProbateNot necessarily. When we receive your Will instructions, we will look at your age and circumstances, and we will write …
Read more Wills & ProbateYou should record your contribution and the way in which you would like the future proceeds of sale to be …
Read more Wills & ProbateUnlike an intestacy, where children must take their inheritance at 18, if you make a Will you can specify at …
Read more Wills & ProbateYou can set aside money for her using a Discretionary trust, which will not affect her entitlement to state benefits.
Read more Wills & ProbateYou should both make Wills to ensure a fair division of assets if one of you dies shortly after the …
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