No. However, it is a common misconception amongst people is that when a person dies their debts disappear but this is not the case unless otherwise stated. When a person dies their debts are paid for from their assets at the time of death. If their debt exceeds their available assets then the estate will be insolvent. Sometimes it is not known if an estate is insolvent until the grant of probate has been received. When the estate of the deceased is insolvent, gifts and legacies cannot be distributed to the beneficiaries under the Will. This part of the law is governed by Administration of Insolvent Estates of Deceased Persons Order 1986 (DPO 1986).
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See AllA personal representative is usually the named Executor of the deceased’s Will. When a person dies without making a Will, the personal...
In straightforward estates we can prepare all the necessary papers within 5 working days of receiving full information about the estate...
The Probate process is needed when investments (typically over £5,000) were held in the deceased’s sole name and the banks, building...
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