Areas of Law / Debt matter

Can you tell me if I am liable in law for any debts accrued by my parents on their deaths?

Debts can’t be inherited like cash or property, so you are unlikely to become liable for your parents’ debts. Your assets will be safe as long as your parents have no financial interest in them. However if you are left to deal with their estates you should take care, since executors or administrators can become liable for the debts of the deceased in their own right if they do not follow the statutory rules. In these circumstances it would be advisable to instruct a solicitor, although you could end up footing the bill if there are no assets at all.

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