13.5 Grants of Representation Flashcards
What can be sold without the need for personal representatives?
chattels
assets held as joint tenants
amounts held up to £5,000 in premium bonds
Grant of probate is obtained when
the deceased leaves a valid will and executors are appointed
When is a grant of probate issued?
When the deceased left a valid will, and executors are appointed.
When are letters of administration required?
If the deceased died intestate (without a valid will) or if no executor was appointed.
What are the steps to obtain a grant of representation?
Register the death
Value assets and liabilities
Check validity of the will
Advertise for unknown beneficiaries/creditors
Pay Inheritance Tax (IHT)
Which form is used for probate applications when there is a will?
Form PA1P
Which form is used when there is no will?
Form PA1A
What is an excepted estate?
An estate that does not require a full Inheritance Tax (IHT) account because it falls below the tax threshold.
Who calculates IHT due on the estate?
A solicitor or the personal representatives.
Which form is used for estates that are not excepted from IHT?
Form IHT400
Do assets held as joint tenants require probate?
No, they pass automatically to the surviving owner upon death.
Can personal items (chattels) be sold without a grant?
Yes, items like furniture, jewellery, and clothing can typically be sold without proof of authority. All they require is a death certificate
When is a grant of letters of administration with will annexed required?
When the executor is not validly appointed or unable/unwilling to act
Who has the primary right to apply in a partial intestacy?
The residuary beneficiary. Person with the greatest right
How many administrators are required if there is a minor beneficiary or a life interest under a will
At least two administrators.
What happens if a beneficiary witnesses a will?
Their gift fails, but they may still apply for a grant in a different capacity.
What does “clearing off” mean in probate applications?
The applicant, who is applying for a grant must confirm that no higher-ranking individuals are applying
How is the inheritance tax calculated on co-owned land?
co-owned land is discounted by 10% because of the challenges associated with owning co-owned land. 15% on co-owned investments
If a person is under 18 they cannot
apply in their own right to be an administrator
What does a grant of probate do?
Confirms the authority of the executors to act
What sort of problems result in an application for letters of administration with will annexed?
- will was not correctly drafted
- the residue has not been disposed of correctly
What does clearing off mean
when applying for a grant of representation they must account for having a better right to the grant. Doesn’t apply when they are in the same class
What does a grant de bonis non achieve?
when the executor dies and the need to complete the administration of an estate
minors cannot
take a grant (18 and lower). Similar rules apply to those with no mental capacity. If a minor is the last surviving personal representative, their parent must apply for a letter of administration until they turn 18.
