Wills

awaybreaktoday · 20 Oct 2009 at 16:09

In a will can you state who is responsible for all you unpaid debts, for example I want to leave all debts I have to British Gas.. Can this be done.. Also at the same time I am leaving all assets to my girlfriend.

AGD · 20 Oct 2009 at 16:12

lol.

Yes you can definitely do that. 100%.

Liefrich · 20 Oct 2009 at 16:13

Most debts are taken out of your estate before it is divided between your beneficiaries.

Asking British Gas to pay the remnants of a mortgage or other large debt, probably won't stand up

The Dread Pirate · 20 Oct 2009 at 16:13

So I could leave all my debt to Gordon Brown?

awaybreaktoday · 20 Oct 2009 at 16:14

So I would be best of selling them to beneficiaries first for a nominal fee?

mollymoo · 20 Oct 2009 at 16:15

Course you can, in fact you can do whatever you like in a will, you will be dead so would you care?

awaybreaktoday · 20 Oct 2009 at 16:16

mollymoo said:
Course you can, in fact you can do whatever you like in a will, you will be dead so would you care?

Do not want to leave debt to family or friends, want to leave all of it to someone else.

JBuk · 20 Oct 2009 at 16:16

Yes, yes you can

but it won't having any legal standing

JBuk · 20 Oct 2009 at 16:17

awaybreaktoday said:
Do not want to leave debt to family or friends, want to leave all of it to someone else.

your debts will come out of your estate and yours alone

Liefrich · 20 Oct 2009 at 16:20

awaybreaktoday said:
Do not want to leave debt to family or friends, want to leave all of it to someone else.

For example:

If you own a house with a sizeable mortgage when you die and you leave your house to your g/f. She will be legally bound to pay off your mortgage, BUT most people will if there isn't enough cash in your estate simply sell the house thus paying off the mortgage and then retain the remainder.

Pish · 20 Oct 2009 at 16:31

its strange, i bet if you left all your money to british gas they would take it

Rich_L · 20 Oct 2009 at 16:32

Best question I've seen on the forums for a while

JBuk · 20 Oct 2009 at 16:33

Pish said:
its strange, i bet if you left all your money to british gas they would take it

of course they would, but they would only get the leftovers of the estate after the creditors have been paid

Skully · 20 Oct 2009 at 16:36

Capn' $qu!ff said:
So I could leave all my debt to Gordon Brown?

Well he is leaving his to us so why not?

philjohn · 20 Oct 2009 at 22:09

As others have said, it all comes out of your estate and if there's not enough to pay your creditors then it's too bad for them - nobody else will be burdened with your debts.

http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10013093

semi-pro waster · 20 Oct 2009 at 22:22

I like the idea, there's a certain amount of ingenuity there but sadly no, you cannot leave your debts to anyone - you can leave them the proceeds of your estate but that's not quite the same thing.

wesley · 20 Oct 2009 at 22:27

what happens if you havent state anyone for unpaid debts? go to next kin?