Dealing with the financial affairs of someone who has died
How to deal with the property of a person who has died
Everything owned by a person who has died is known as their estate. The estate may be made up of:
money, both cash and money in a bank or building society account. This could include money paid out on a life insurance policy
money owed to the person who has died
shares
property, for example, their home
personal possessions, for example, their car or jewellery.
If the person who died owes money to other people, for example, on a credit card, for fuel, for rent or a mortgage, this comes out of the estate.
The...