My husband died in Nov 2010, leaving £100,000's worth of debt. There was no will. I contacted all known creditors, sending a copy of his death certificate. Using the life insurance payout, I cleared all outstanding debts except for one, who did not contact me again until March 2012. The life insurance was paid to me, his wife, as sole beneficiary, without need to apply for probate. He had no assets to constitute an estate, and his financial affairs were settled quickly, and the balance shared between myself and our children. The outstanding creditor is now insisting on payment of the debt which we assumed had been written off. Do I have to pay, after 16 months of no contact?
Thanks for your question. Please remember to click ACCEPT once you get my answer.What was the value of the insurance payouts?
£208,000
May I ask why didn't you get probate with an estate of that value?
I was naturally traumatised by my unexpected loss and probably acted out of character. I tried to research it on the internet. Both the bank and his pension provider lead me to believe it wasn't necessary.
I can say any life insurance payout is not included in the estate.Therefore if there were no assets then you did not even have to pay out the current creditors, if there were little or no assets.As such you can write to the company and ask them to write off the loan.Unless the loan is in joint name then you do not need to pay it,Any life insurance is not included for probable purposes.Do not be bullied. Please remember to click accept so that I am credited for my time. Thank you.