Good morning.
I am instructed to act in an estate where the Will leaves the balance of specific bank accounts (x3) to children and a gift of residue to spouse. (Second marriage)
The only assets that the deceased had in his sole name were the bank accounts (x3).
There is also a joint bank account and a property owned as joint tenants, passing by survivorship to spouse.
There is no residue.
Am I correct in thinking that the funeral costs, other debts (credit cards) and legal costs will be settled from the bank accounts in the deceased’s sole name and that the specific legacies will abate?
Thank you
Lowri