Bereavement & money

Lesson 8 of 12 in our free Life Events guide: a 5-minute money game with the key points below.

This lesson is in the full version.

Free with a code from your uni, college, council, landlord or employer (worth £600/year). Lesson 1 of Life Events is free for everyone.

Questions you'll answer

A company contacts Mo about a debt left by Mo's late grandad. What's the right first step?

Myth: “Children have to pay their parent's debts from their own money.” — Debts are paid from the estate (what the person left). If there isn't enough, most debts are written off — unless they were joint debts or you were a guarantor.
Fact: “If you had a joint loan or joint account with the person, you may still be responsible for it.” — Joint debts usually pass to the surviving account holder.
Fact: “Some people on certain benefits can get help with funeral costs.” — A Funeral Expenses Payment (or Funeral Support Payment in Scotland) may be available. Check eligibility.
Red flag: “He owed us £2,400 and you need to pay it today” — Family aren't usually personally liable, and no genuine creditor demands payment on the spot.
Red flag: “or it'll go to court tomorrow.” — Threats and fake deadlines are pressure tactics.
Red flag: “Can you confirm your own bank details to set up payment?” — Never give bank details to an unexpected caller. Ask for it in writing and check independently.