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.
Sadly arguments do happen. Contact us for advice if someone is questioning: The contents of the Will Whether the Will …
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 & ProbateProbate is the process of proving that a Will is valid and confirming the Executor’s authority to administer the estate …
Read more Wills & ProbateIf you don’t have a Will when you die, the law will decide how your estate is distributed. This is …
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 & ProbateWe offer various levels of service; which one you choose will depend on how much work you want us to …
Read more Wills & ProbateThe intestacy rules would apply to your estate and your partner would receive nothing under these.
Read more Wills & ProbateIf the estate is valued at more than the nil rate band then the estate will usually have to pay …
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