3. The estate

• Dealing with the estate
• Hierarchy of debts
• Impact on debt solutions already in place
• Insolvency
• Debt Payment Programmes
• Creditors
• Where there is no estate
• Where there is some estate

An estate is everything owned by the deceased. It may be made up of:

•money, including cash, money in a bank account and money from life insurance policies;
•money owed to the deceased;
•shares and investments;
•property;
•personal belongings such as a car, jewellery or other items of value – eg, antiques.

Any debts owed by the deceased are paid out of the estate before any money is paid to the beneficiaries.