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inheritance

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bricro1 | 18:27 Wed 09th May 2007 | Business & Finance
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Seven out of ten young people fear inheriting a mountain of debts. Is this possible?
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Avatar Image bednobs
do you mean is it possible that they will or possible they will worry about it?
18:32 Wed 09th May 2007
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If someone dies and debts are greater than assets do the beneficiaries! or executors have any legal duty to settle the outstanding debts?
22:48 Wed 09th May 2007
Avatar Image CheekyChops
No, they don't. Upon death, any debt will be paid from the estate. If the estate is not large enough to cover the debts then they cannot pursue anyone else for repayment, assuming that the debt was in the sole name of the deceased.
23:21 Wed 09th May 2007
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Much obliged,thank you.
00:20 Thu 10th May 2007
Avatar Image cascarelli
Seven out of ten young people have no idea what they are talking about!


Actually, its probably a much higher ratio than that....
09:30 Thu 10th May 2007
Avatar Image bricro1
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Yes, nine out of ten fear having to get a job!!
10:37 Thu 10th May 2007

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