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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10585
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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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: 3 years ago.
Category: Law
Expert:  Aston Lawyer replied 3 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 3 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 3 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