What happens to my debt when I die?

Our debts do not die with us, they are carried over into our estate. It is reported that Michael Jackson died with approximately £500 million worth of total debt; so what happens to these debts after we die?

Our debts do not die with us, they are carried over into our estate. It is reported that Michael Jackson died with approximately £500 million worth of total debt; so what happens to these debts after we die?