What happens to my Debts when I die

Popular pub banter may lead you to believe that your debts die with you. In a sort of way they do as you will no longer be able to pay them. In reality however your debts belong to your estate and either your Executor, if you have a Will or Administrator if you don’t will be responsible for paying these debts from the available funds in your estate. If the Executor discovers that the estate doesn’t have the funds to pay all the debts then they need to proceed with great caution and seek professional advice as incorrect moves at this point could make the Executor personally responsible for the debt. Get in touch if you feel you are working on or could work on an Estate like this?