Free and Cheap Wills discussion area
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Hi All - the connection here is 'Wills' but haven't seen any recent post re my own query, but here goes. Payments of debts after death - If a property is in joint tenancy and the person that dies has CC debts in their sole name who is liable? Surely at the moment of death the inheritor owns the property outright and so shouldn't have to pay as it is not their debt. If the deceased has no actual money (other than what may be in say a joint bank account at that moment) can the spouse/partner be forced to pay? We are in the throes of altering our 10yr old wills and this was a question that came up. Advice would be appreciated.
For future reference, the Deaths, Funerals and Probate board is a better place for enquiries like this - there's lots of helpful bods on there!
But the answer is that the house passes to the joint tenant and any bank accounts pass to the joint account holder. The survivor is not liable for any sole debt. It gets paid from the Estate (which does not include joint assets passing to the survivor) so from any sole cash assets if there are any.:heartpuls Daughter born January 2012 :heartpuls Son born February 2014 :heartpuls
Slimming World ~ trying to get back on the wagon...0 -
thank you Crabapple - we were looking for info on cheap wills but in conversation that question came up so thought we'd ask. Sorry if in wrong place. Your reply was as we thought but needed to have confirmation as that specific point didn't seem to come up in other places we looked.
Many thanks anyway.0 -
Did look on that site - my goodness, what a minefield! so may different variations of the 'answer' some agree with you Crabapple and some don't - don't really feel any the wiser. Even people have been to solicitors seem to get different answers - as I said a minefield.0
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Hi, I have read all 13 pages of this forum. I would like to produce a will, my head is frazzled.
I have a child who is now a young adult, it is worrying me what would happen if I died. I only have life insurance and my pension for when that time comes.
Sorry I am digressing here, my question is why is the law so confusing and with the wording also?
From what I have read if a will is created, really no one can be trusted no matter how much is paid. Then you pay money for it to be stored (of course by choice).
All I want is my child to have what was mine and a small percentage of that to cover any costs that are owed such as debts left and funeral costs. I have told my child if I am not in fit state to consent, the consent will be theirs. Why is it not this simple? These are questions of frustration and innocence as this is new ground for me.
Also as someone asked before are there any good recommendations of a 'good will writer'?Aim to win a product of the year bag in 2020!
Listen to your instinct.. it is never wrong.0 -
It is not as nearly as bad as you think! Just find a local solicitor and ask them to prepare a will. Make sure your child knows which solicitor. Make your child executor. Simples!Hi, I have read all 13 pages of this forum. I would like to produce a will, my head is frazzled.
I have a child who is now a young adult, it is worrying me what would happen if I died. I only have life insurance and my pension for when that time comes.
Sorry I am digressing here, my question is why is the law so confusing and with the wording also?
From what I have read if a will is created, really no one can be trusted no matter how much is paid. Then you pay money for it to be stored (of course by choice).
All I want is my child to have what was mine and a small percentage of that to cover any costs that are owed such as debts left and funeral costs. I have told my child if I am not in fit state to consent, the consent will be theirs. Why is it not this simple? These are questions of frustration and innocence as this is new ground for me.
Also as someone asked before are there any good recommendations of a 'good will writer'?0 -
All I want is my child to have what was mine and a small percentage of that to cover any costs that are owed such as debts left and funeral costs.
As g6jns says - making a simple will isn't confusing or very expensive. Ask around for a recommendation for a local solicitor.
You just need to turn around the way you're thinking - when you die, all your debts and funeral costs have to be paid and then what's left will go to your child.
When making a will, you'll also need to decide what would happen to your estate if your child dies before you do.0 -
I do not own any property, its councol rented so I think that is the easy part out of the way.
If I make my child the executor, then whats a beneficiary?Aim to win a product of the year bag in 2020!
Listen to your instinct.. it is never wrong.0 -
The executor is the person you choose to administer your estate.
Beneficiaries are the people who inherit from you.
Beneficiaries can also be executors.
Mojisola thanks for that! If the wording in law (all sections) were broken down and simplfied, I am certain alot of questions would be answered in the world. The law language to me to is like trying to crack a code!Aim to win a product of the year bag in 2020!
Listen to your instinct.. it is never wrong.0 -
I've read so much about will-making over the years and it never seems straight forward and plain English!
I'm single (long time divorced) and my only beneficiaries will be my two (now adult) children, I own no property (stuck in private short term tenancies) and wish to see everything I own to go to my children. I would have thought that it would be very straightforward to write in a will, or do I even need to make one?!Customer Services - what a joke!0
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