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.
Yes, the solicitor is allowed to charge reasonable costs for acting as an executor. The usual charges are between 1½ …
Read more Wills & ProbateFirstly you will need to break the news to friends and relatives, register the death and organise the funeral. It …
Read more Wills & ProbateGenerally, if you own land, property or any other asset in a foreign country, you should have a Will prepared …
Read more Wills & ProbateYou can include gifts of personal belongings in your Will. However, if you would like a more flexible way of …
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 & ProbateMarriage will cancel your Will unless it was prepared in expectation of the event. Getting divorced will not cancel your …
Read more Wills & ProbateIf the estate is valued at more than the nil rate band then the estate will usually have to pay …
Read more Wills & ProbateA personal representative is simply another name for someone who is an Executor or if there is no Will, is …
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