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Husband deceased with debts - Pension help please
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Sirlaughalot wrote: »Yes there is a property involved but it seems quite complicated to me. In the Will, it says it is left in trust to his wife who is the trustee. When she dies her will says the property goes to the trustees who seem to be their twin daughters.
Hope this makes sense
The above suggests owned outright or tenants in common, either way there is an asset in the estate that can be used to pay the debts.
No mortgage simplifies it.
The trust is most likely a IPDI(life interest) trust.
The asset that will fall into that trust is the residual share of the property after the debt is paid or the cash if it gets sold.A letter from the bank regarding the debt arrived today from the bereavement departmant highlighting the dept and if there were funds in the estate to pay for it.
Looks like there is a house(or part of one) getting the debts written off might not be option as you need to include that in any estate inventory you send to the bank.
How big are the debts?0
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