Do you inherit debt: Debts in the sole name of the person who died are usually paid from their estate and not passed on, except in cases where a third party guaranteed the debt or where money was gifted shortly before death.
What happens with joint debts: Mortgages, loans or accounts held jointly become the full responsibility of the surviving account holder, so it is vital to contact the lender or company quickly if repayments are a problem.
How debts affect inheritance: All debts, including funeral costs, must be cleared in a strict legal order before beneficiaries can receive anything. If there is not enough money, creditors may be paid proportionally and beneficiaries may get less or nothing.