Your Money Question: Is this harmful clause lurking in your will?

February 6, 2008

A close friend who recently had his will redrafted says I should delete a sentence in my will that says "all just debts" will be paid immediately after I die. Is he right?

Q. A close friend who recently had his will redrafted says I should delete a sentence in my will that says "all just debts" will be paid immediately after I die. Is he right?

A. Yes. Otherwise, even if promissory notes, contracts, or other debt documents specify later payment dates, your executor will have to settle those debts promptly after your death, which could prove detrimental to your heirs. There's no reason to give your creditors greater rights to your assets after your death than they'd be entitled to during your lifetime.