Question about death and debt
 

What happens?

say you own money to credit cards, does the debt get written off? or does it have to get picked up by someone, say children or other half?

Re: Question about death and debt
 

Would usually come out of your assets.

Re: Question about death and debt
 

and if you have none?

Re: Question about death and debt
 

Your estate would be liable but if you have none the the debt dies with you.

Re: Question about death and debt
 

Yes
you always have an Estate, but if you mean if your assets are insufficient to meet your debts, then yes you are right. (unless debt is jointly held with someone still living
http://www.thewillexpert.co.uk/DebtAfterDeath.html

Re: Question about death and debt
 

costs a feckin fortune to die

Re: Question about death and debt
 

thanks.

I had a read of that and from my understanding...

if you have no estate (ie rented house and no savings) apart from the minimal contents of your house, then once that has been sold, any remaining debt that is in your name alone will get written off?

Re: Question about death and debt
 

Brb, Canoe...

Re: Question about death and debt
 

In a simple answer, yes. Bearing in mind they are not partnered.

Unless they have a partner by marriage, or live with a sibling in the same house hold and share equal rights (there is a similar precedent case for this I think with inheritance of property, possessions and debt).

Re: Question about death and debt
 

LOL!!!