Forum
Last updated: 

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 comments

  • 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

I have a debt and charged me with high interest rate, what should I do?

My neighbor owed me money for a year and stil haven't paying me back.

What happens after one has declared bankruptcy?

Can creditors sue me for debts if I file for bankruptcy?

Can I buy a foreclosed house?

Can civil suit be taken regardless of private settlement?

Related Reviews

3% cashback for contactless payments like Visa PayWave, Apple Pay transactions

The DBS Visa Debit Card has my vote for being the one of the best debit cards in Singapore. You get 3% cashback for contactless payments like Visa PayWave, Apple Pay transactions with a few conditions to be met like spend at least $400 a month on your debit card and limit cash withdrawals to $400 or less a month. Cashback is capped at $50 a month while you should note that PayWave transactions are capped at $200 per transaction. You should also know that the card can be used overseas with no foreign transaction fee if paired with a DBS Multi-Currency Account

DBS Visa Debit Card / DBS Bank

Transact in multiple currencies without incurring foreign currency exchange fee

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.

KrisFlyer UOB Account / United Overseas Bank

7% cashback on petrol even in Malaysia

Standard Chartered has several debit cards, and the one you’ll get depends on which bank account you choose. If you plan to bank with StanChart, consider the Standard Chartered XtraSaver Debit Card which is linked to the XtraSaver account. With this card, as long as you maintain a minimum balance of $6,000 in that account, you can get a very respectable 7% cashback on petrol (including in Malaysia), capped at $40 a month. If you have an account balance of at least $200,000, you can get up to 15% but the cap doesn’t change.

Standard Chartered XtraSaver Debit Card / Standard Chartered Bank Singapore

2% cashback on all contactless payments and 1% on online shopping with no minimum spend

In my opinion, the SAFRA DBS debit card is simply the best debit card. NSF cardholders can get 2% cashback on all contactless payments and 1% on online shopping with no minimum spend. For everyone else, that is non-NSFs, the minimum spend to enjoy these bonus cashback rates is actually $400. But by and large this I believe is worth it in order to reap the full benefits with the card.

SAFRA DBS Debit Card / DBS Bank

Spend at least $400 a month and get 4% rebate

This debit card comes with free PAssion membership of up to $12 for 5 years. Don’t know what’s so great about that but it adds up for some people. Plus when you spend at least $400 a month on the POSB PAssion Card, you get 4% rebate at Giant, Cold Storage and Guardian. If you have a family, you also get 5% rebate at popular Singapore places of attractions and 1-for-1 tickets on the 10th of every month.

PAssion POSB Debit Card / DBS Bank

Enjoy up to 10% off on travel related bookings with participating merchants

With this card, you’ll be able to get cash rebates of up to 10% when you use your card to make purchases at participating merchants such as Cathay Cineplexes and Cold Storage.If you’re one for travelling and adventure, you can also enjoy up to 10% off on travel related bookings with participating merchants.There is no minimum income and annual fee required for this card.You only need to be 16 years or older with a UOB Savings Account or Current Account

UOB Direct VISA Debit Card / United Overseas Bank