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.
An executor is responsible for looking after your money, property and other assets after your death and carrying out the …
Read more Wills & ProbateTypically there are three stages to the process: Collecting the information and preparing the detailed list of assets, liabilities and …
Read more Wills & ProbateYou are responsible for taking charge of the property, money and belongings. You will be held personally and financially responsible …
Read more Wills & ProbatePartners will usually hold their property jointly, this is known as ‘Joint Tenants’. If you hold your property as Joint …
Read more Wills & ProbateThe first step is to work out who should apply for letters of administration We can give you full advice …
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 & ProbateA Will can be cancelled simply by creating a new Will which states that all previous Wills are revoked. Your …
Read more Wills & ProbateIt is possible for you to provide for future born children. However it is advisable to cover what should happen …
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