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.
If you don’t have a Will when you die, the law will decide how your estate is distributed. This is …
Read more Wills & ProbateWhat happens to property abroad when you die depends on the law of the country where it is located. In …
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 & ProbateInheritance tax is charged at the rate of 40% on the value of your estate above the allowances available. The …
Read more Wills & ProbateUp to 4 executors can act at a time. At least two executors are needed if their might be a …
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 & ProbateWe can advise on Wills that will offer some protection from care home fees.
Read more Wills & ProbatePartners will usually hold their property jointly, this is known as ‘Joint Tenants’. If you hold your property as Joint …
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