What will happen if someone unfortunately die of accident leaving his debts behind?

My uncle died in a car accident the past month. Upto this day his family mourn for him and worries about the debts he left with my aunt and his sons. His will was not given to them since his debts was the executor prioritizes it before his will be stated to them. They got their family lawyer to settle his will along with his assets and liabilities.

  • user image

    No Name

    The family, including his wife (unless they have joint accounts) and sons, will not be inheriting the debts that your uncle left them. The debts of your uncle will be payable out of his estate. The executor responsible will then proceed to sell off investments and withdraw the money left in the deceased's bank accounts to pay off his debts. After settling the debts, is the time when the executor will distribute the remaining assets according to the instructions of the deceased’s will.

    2020.03.24 15:44

    Please leave your knowledge and opinion!

    Related Forums

    Is borrowing money from a loan shark legal?

    Can I buy a foreclosed house?

    I owe my boss

    I'm currently in a lot of debt. and I need it to stop

    I need assistance with my debts.

    Hospital preventing a family to leave due to debts

    Related Reviews

    Annual fee waiver triggered with at least 12 MasterCard transactions per calendar year

    UOB Lady’s Debit Card / United Overseas Bank

    The principal UOB Lady’s Debit Card is entitled to the first 3 years card fee waived while thereafter, annual fee waiver will be triggered with at least 12 MasterCard transactions per calendar year. By the way annual fee waiver shall not apply to applicants who have cancelled and reapplied for the same principal UOB Lady’s Debit Card. For eligibility, applicant must be female and be at least 16 years old and no minimum income is requirement.

    Withdraw cash from Maybank ATMs with no transaction fees

    Maybank Platinum Debit Card / Maybank Singapore

    The Maybank offers two debit cards, the Maybank Platinum Debit Card (Mastercard) and the Maybank Manchester United Platinum Visa Debit Card. Now for those of us, especially those who frequent Malaysia, the free Maybank Platinum Debit Card is pretty useful as it lets you withdraw cash from Maybank ATMs with no transaction fees. Bear in mind, however, that foreign exchange rates may apply.

    Transact in multiple currencies without incurring foreign currency exchange fee

    KrisFlyer UOB Account / United Overseas Bank

    The KrisFlyer UOB Debit Card and Account has definitely changed for the better. With the introduction of Mighty FX, it now makes even more sense for a frequent traveller to take advantage of the enhanced ability of the KrisFlyer UOB Debit Card to transact in multiple currencies without incurring a foreign currency exchange fee. If you want to earn KrisFlyer miles and don’t want to get or don’t qualify for a credit card, then the KrisFlyer UOB Debit Card and Account are the way to go.

    The first bank in Southeast Asia to launch Near Field Communication

    UOB Debit Card / United Overseas Bank

    With contactless cash withdrawals, you can now withdraw cash easily and quickly with a tap of your phone instead of inserting your ATM card. UOB is perhaps the first bank in Southeast Asia to launch Near Field Communication (NFC) enabled Automatic Teller Machines (ATM) that allows you to truly go digital. Now to enjoy the convenience of Contactless Cash Withdrawals, add your UOB Visa or MasterCard Debit Card to your mobile phone on MightyPay for Android users or ApplePay for iPhone users.

    Cash rebate is capped at a maximum of S$10 per calendar month.

    Bank of China Great Wall International Debit Card / Bank of China

    The Bank of China is now officially part of the atm5 shared network and in effect you can now check your account balance and enjoy cash withdrawals with your BOC Great Wall International MasterCard Debit Card at over 230 ATMs with atm5 Logo Island wide without any transaction fees. You should know that cash rebate is capped at a maximum of S$10 per calendar month.

    No transaction fee for your cash withdrawal via 24,000 BOC ATMs in Mainland China

    BOC UnionPay Dual Currency Debit Card / Bank of China

    With this card there are no currency exchange fees for all RMB transactions through RMB account. Plus enjoy convenience via UnionPay, the largest payment network in China. Interestingly, if the balance on your RMB sub-account is insufficient, the card will deduct from your SGD sub-account based on BOC’s real time exchange rate. There are no transaction fee for your cash withdrawal via 24,000 BOC ATMs in Mainland China for a limited time however.