Discussion
Correct me if I'm wrong but in England when you die any debt that you owe is passed on to your NOK, is that right?
If that is the case would it be possible to have a clause in your will leaving your debt to a deserving institution such oh...the Government? or ona more practical level the bank?
as you can tell I'm bored and thinking of nonsense!
If that is the case would it be possible to have a clause in your will leaving your debt to a deserving institution such oh...the Government? or ona more practical level the bank?
as you can tell I'm bored and thinking of nonsense!
Funk said:
An interesting question. Seems strange that as NOK you should be liable for someone else's debt for the sole reason that you're related to them. I'd never thought about it before.
The reason I ask that being originally from Jockland the debt dies with you, however I was told that since moving to England my debt would be transferred to NOK.Would Gordon appreciate the debt do you think?
raf_gti said:
Funk said:
An interesting question. Seems strange that as NOK you should be liable for someone else's debt for the sole reason that you're related to them. I'd never thought about it before.
The reason I ask that being originally from Jockland the debt dies with you, however I was told that since moving to England my debt would be transferred to NOK.Would Gordon appreciate the debt do you think?
I presume they do try and rcover your debt from your estate though, so although your NOK wouldn't have to pay the debt it may affect any inheritance as the debters will take there piece of the pie first.
raf_gti said:
Correct me if I'm wrong but in England when you die any debt that you owe is passed on to your NOK, is that right?
If that is the case would it be possible to have a clause in your will leaving your debt to a deserving institution such oh...the Government? or ona more practical level the bank?
as you can tell I'm bored and thinking of nonsense!
Forget about it. Life insurance companies are employing some pretty hot detectives at the moment. If that is the case would it be possible to have a clause in your will leaving your debt to a deserving institution such oh...the Government? or ona more practical level the bank?
as you can tell I'm bored and thinking of nonsense!
oilandwater said:
When my father in law died, his credit card bill was passed on to us. We had to pay it. (Along with massive inheritance tax.)
Eh? You mean, his estate paid the credit card bill because it had money in it, and the estate paid inheritance tax because he still had a lot of money left over? Sounds about right.oilandwater said:
When my father in law died, his credit card bill was passed on to us. We had to pay it. (Along with massive inheritance tax.)
Not strictly true I would have thought. I assume you were the executor of the estate and therefore had to pay the bill out of the estate? Any inheritance money isn't yours until debts have been settled.trooperiziz said:
oilandwater said:
When my father in law died, his credit card bill was passed on to us. We had to pay it. (Along with massive inheritance tax.)
Not strictly true I would have thought. I assume you were the executor of the estate and therefore had to pay the bill out of the estate? Any inheritance money isn't yours until debts have been settled.
oilandwater said:
singlecoil said:
oilandwater said:
When my father in law died, his credit card bill was passed on to us. We had to pay it. (Along with massive inheritance tax.)
Worst 'I've got a rich family' post ever 
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