can you leave someone a debt

the_pen_turner

if I died my estate would be sold and the books balanced and what's left would be given to whoever is in the will.

hypothetical
lets say im a renter with only one asset (van 10,000) and one creditor (lets say builders providers for 10,000) . I have no wife, family etc but 2 adult offspring twins.

could I leave the asset to one and the debt to the other

GerardKeating

the_pen_turner wrote: »

if I died my estate would be sold and the books balanced and what's left would be given to whoever is in the will.

hypothetical
lets say im a renter with only one asset (van 10,000) and one creditor (lets say builders providers for 10,000) . I have no wife, family etc but 2 adult offspring twins.

could I leave the asset to one and the debt to the other

No, the debts would have to be cleared before any of the estate can be distributed.

Grab All Association

the_pen_turner wrote: »

if I died my estate would be sold and the books balanced and what's left would be given to whoever is in the will.

hypothetical
lets say im a renter with only one asset (van 10,000) and one creditor (lets say builders providers for 10,000) . I have no wife, family etc but 2 adult offspring twins.

could I leave the asset to one and the debt to the other

Don't be offended but I have to ask this. Are you ok?

The words debt and death used in the same sentence in LD is never good.

the_pen_turner

Grab All Association wrote: »

Don't be offended but I have to ask this. Are you ok?

The words debt and death used in the same sentence in LD is never good.

thanks for your concern .
its hypothetical really

my mother was joking about this today to someone that was annoying her. she was wishing she could leave all her bills to that person.
it triggered me thinking about this

MarkAnthony

Leave them a small sum, just enough to appeal to greed, on the condition they look after a cantankerous and ideally incontinent cat or dog.

_Whimsical_

GerardKeating wrote: »

No, the debts would have to be cleared before any of the estate can be distributed.

If the assets are not sufficient to cover the debts are family or beneficiaries of a will liable for uncleared debt?

the_pen_turner

_Whimsical_ wrote: »

If the assets are not sufficient to cover the debts are family or beneficiaries of a will liable for uncleared debt?

if in the case above the debt was greater than the asset . could I leave everything to the lovable neighbour who you secretly hate and cut out the 2 kids.
would the kids be liable or the neighbour

Victor

Getting away from inheritances, you can't claim a debt against a random person. you can only claim a debt against someone who has signed up for that debt or otherwise legitimately incurred it, e.g. a hospital billing a patient who arrives there unconscious.

So, you can't 'give' a debt to someone - they won't accept it. Therefore, you can't will a debt on someone. You are placing a debt on someone who doesn't want it and are attempting to defraud the creditor. If you were able to will a debt, everyone would will it to the one person, who would already be bankrupt and living on charity. Every creditor would be left without their money. It would be like something from a Terry Pratchett book.

That said, there may be certain circumstance where someone would take on a debt semi-willingly, e.g. "John can inherit the house (worth €200,000), if he pays off the last €10,000 in the mortgage."

GerardKeating

_Whimsical_ wrote: »

If the assets are not sufficient to cover the debts are family or beneficiaries of a will liable for uncleared debt?

Nope, despite what some Banks/Utilities might claim.