What Happens To A Person’s Debt When They Pass Away In Singapore

In general, people don’t like to think about death. But it’s inevitable, and it’s important that we understand the legal consequences of death, so we can better plan for things when we’re alive.

Making a will is usually focused on how one’s assets are distributed. However, it’s important to know that before any distribution to beneficiaries can happen, the deceased assets have to first be used to settle any debts they are liable for. Not understanding this will lead to disappointment over the eventual size of the bequest left behind for loved ones.

This article provides a brief overview on the legal aspects of debts after death for educational purposes but is not meant as legal advice. Please seek professional legal advice for your specific situation.