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.
The Court has to give permission for a Statutory will. Statutory wills can be made by Deputies appointed by the …
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 & ProbateUnlike an intestacy, where children must take their inheritance at 18, if you make a Will you can specify at …
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 & ProbateYes, the solicitor is allowed to charge reasonable costs for acting as an executor. The usual charges are between 1½ …
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 & ProbateThere are several options for protecting your children’s inheritance if you die before your spouse/civil partner/partner. The choice can depend …
Read more Wills & ProbateYou can set aside money for her using a Discretionary trust, which will not affect her entitlement to state benefits.
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