What to know about the debts of a deceased person
We are often asked about whether a person can inherit the debts of another person. Generally speaking, if a person has debts then any assets in their estate must be used to meet the payment of those debts, before the estate is distributed to any beneficiaries.
If there are no assets, or insufficient assets to pay for all of the deceased's debts, then creditors do not usually have rights to recover funds against anyone else.
If an estate is at a risk of insolvency, it is very important to manage the payment of any superannuation death benefits. Superannuation is usually quarantined from insolvency, so in the interests of beneficiaries seek advice about how to best protect funds in this instance.
Why Maurice Blackburn?
At Maurice Blackburn, we offer our Wills, estates and trusts legal services on a 'no win, no fee'* basis, which means that you don't pay our fees if we don't win your case. If you have any questions about insolvency, or if you need help resolving any matters related to a Will, trust or estate, contact us to speak with an expert in the field.
All you need to know about Will disputes
Whether you are thinking of challenging or contesting a Will, or if you are the executor or beneficiary of a Will that is being challenged, our Will disputes lawyers can assist you.
Our Wills and estates services
- Will disputes lawyers
- Contesting a Will
- Power of Attorney dispute lawyers
- Defending a Will
- Applying for a court ordered Will
- Overturning a Will