What happens when someone dies and you owe them money? – Ask an Expert

It’s common for people to accept loans from family members or friends. This can be to help pay for mortgage deposits, home repairs, to cover business investments or help pay for large purchases, to name a few.

As the loans are handled ‘informally’, they tend to lack any clarity of what will happen if the lender passes away. This, we know from experience, can lead to problems.

Our Wills, Trusts & Probate department often receive enquiries regarding repayment of ‘informal loans’ between family and friends, and what happens after the lender passes away.

The common questions are:

Do debts have to be repaid to the lender if they pass away?

If money is borrowed from a family and they pass away, do I have to pay this back?

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4th of January – National Divorce Day

The Christmas holidays can create pressure within relationships; with many choosing to stay together until the end of the family season, however, early January is when many couples reach the end of their tether. The first Monday of January – which will be the 4th in 2021 – has been dubbed ‘Divorce Day’ by family law solicitors who notice the significant spike in separation enquiries at this time.

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Financial Support Available During the Coronavirus Pandemic

The effect of the pandemic is widespread with many people losing their jobs, receiving reduced pay or becoming unwell. Whilst the unexpected change to your household income may have left you struggling there is financial support available to help families in England.

We outline the current financial support for families suffering due to the Coronavirus pandemic.

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