Q&As

The testator included as a gift in their Will the writing off of loans they made to a company during their lifetime. What are the options for transferring the benefit and/or burden of the loans to other persons?

read titleRead full title
Published on LexisPSL on 28/09/2020

The following Wills & Probate Q&A provides comprehensive and up to date legal information covering:

  • The testator included as a gift in their Will the writing off of loans they made to a company during their lifetime. What are the options for transferring the benefit and/or burden of the loans to other persons?

The testator included as a gift in their Will the writing off of loans they made to a company during their lifetime. What are the options for transferring the benefit and/or burden of the loans to other persons?

We have assumed that this response does not consider the tax implications of any of the options discussed.

A debt is a chose in action and as such is movable property which can be the subject of a legacy in a Will. The benefit of a debt can be assigned inter vivos, subject to the terms of the agreement between the debtor and creditor. The forgiving or releasing of a debt by a testator in their Will, is construed as a legacy of the amount of the

Related documents:

Popular documents