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.
If the estate is valued at more than the nil rate band then the estate will usually have to pay …
Read more Wills & ProbateIf you cannot find a Will in any of the paperwork at the property, you should speak to other family …
Read more Wills & ProbateInheritance tax is charged at the rate of 40% on the value of your estate above the allowances available. The …
Read more Wills & ProbateTo make a Will, you have to have capacity to understand what you own, what making a will actually means …
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 & ProbateA Will can be cancelled simply by creating a new Will which states that all previous Wills are revoked. Your …
Read more Wills & ProbateThe Court has to give permission for a Statutory will. Statutory wills can be made by Deputies appointed by the …
Read more Wills & ProbateA member of your family, your partner, a friend or solicitor may act as your executor. The executor must be …
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