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.
There 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 & ProbateA Will can be cancelled simply by creating a new Will which states that all previous Wills are revoked. Your …
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 & ProbateUnlike an intestacy, where children must take their inheritance at 18, if you make a Will you can specify at …
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 & ProbateA member of your family, your partner, a friend or solicitor may act as your executor. The executor must be …
Read more Wills & ProbateOnly if there are serious disagreements between beneficiaries and/or the people making the Will.
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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