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What happens to your hecs debt after you die, can they take your house from your children? |
What happens to your hecs debt after you die, can they take your house from your children? Absolutely. If you die, with or without a will with property such as a home in your own name then your estate muct go to 'probate court'. This start a legal process whereby the court either executes with wishes of your will (with or without help from the executor). It is required by law that creditors be notified in case you still owe them money. They make a claim against the estate and if necessary the home will be sold to pay them. (the in your own name refers to having the house titled in an irrevocable trust). could you sell or gift the house to them much earlier? haha, take out a credit card in your name and let your children max it out just before you die! |
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