YOUR MONEY | What happens to your debt when you die

It isn’t something that we like thinking about but even after we die there are still expenses that need to be paid – and these expenses increase when you have debt

A deceased’s estate (basically that’s everything you own) has assets and liabilities.

Assets are usually things such as property, vehicles, furniture and shares; while liabilities include, for example, a home or car loan; a bank overdraft; or credit-card debt.