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.
What happens to property abroad when you die depends on the law of the country where it is located. In …
Read more Wills & ProbateDepending on the size and complexity of the estate, these could include HM Revenue & Customs, the Department for Work …
Read more Wills & ProbateTo make a Will you must be over the minimum age limit and have “testamentary capacity”. This means you must …
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 & ProbateIf you cannot find a Will in any of the paperwork at the property, you should speak to other family …
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 & ProbateIt is possible for you to provide for future born children. However it is advisable to cover what should happen …
Read more Wills & ProbateAn executor is responsible for looking after your money, property and other assets after your death and carrying out the …
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