How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Aston Lawyer Your Own Question

Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10181
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
16368554
Type Your Law Question Here...
Aston Lawyer is online now

I am the Executor of my late husbands Estate. I want to know

Customer Question

I am the Executor of my late husbands Estate.
I want to know if I elect to claim my Legal right to the estate, does it come in priority after personal debt, and possibly before personal guarantees debt given to the Bank for Business loans to his company which went into Liquidation before his death.
If I claim my Legal right, do I forgo anything which has been left to me in the Will and Codicil.
Submitted: 2 years ago.
Category: Law
Expert:  Aston Lawyer replied 2 years ago.
Hello and thanks for using Just Answer.

My name is Al and am happy to assist you with your enquiry.

Could you please confirm you live in England or Wales?

(I am a practising Solicitor in England).

I am not 100% sure what you mean when you say "elect to claim my Legal right to the estate" and if so, do "I forego anything which has been left to me in the Will"?

I look forward to hearing from you.

Kind Regards
AL
Customer: replied 2 years ago.

I live in the Republic of Ireland. I can choose my right as Spouse to claim my Legal Right which is one third of the Estate as I have Stepchildren. If there are no children then the amount is one half.


However that is not what I am asking. I am asking about the priority of my Legal Right against Bank Debt to do with the Business which went into Liquidation. We have paid all of the secured debt but the Business debt had personal guarantees to the Bank.

Expert:  Aston Lawyer replied 2 years ago.

Hi Margaret,

Thanks for your reply.

I'm afraid whenever someone dies, any debts need to be paid first and then whatever is left over passes to the beneficiaries. Therefore, the Bank do have a right to claim what monies are due to them under the personal guarantees your Husband gave them. Even though the Company has gone into liquidation, as the Guarantees were given by your Husband in personal name, this debt can be claimed by the Bank against his Estate.

I am sorry this is not the answer you were hoping for.

Please let me know if you require any further clarification.

Kind Regards
AL

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Last | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice
 
 
 

Related Law Questions