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WAE > 8. Administration: Obtaining the Grant of Representation > Flashcards

8. Administration: Obtaining the Grant of Representation Flashcards

1
Q

Can PRs retire after they have taken the grant of probate? If not, how could a beneficiary replace them?

A

No, they cannot retire
- B would have to apply to the court to replace them under s 50 Administration of Justice Act

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2
Q

If the deceased left a valid will but there are no executors who can act, what form will the grant take

A

Grant of administration with will annexed

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3
Q

Form for the grant if there IS a will

A

PA1P

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4
Q

Form for the grant if there is NO WILL

A

PA1A

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5
Q

When is it required to have at least two administrators for an estate?

A
  1. If one beneficiary is an infant (minority interest)
  2. If one beneficiary only has a life interest
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6
Q

When does the executor have authority to administer the estate?

A

As soon as the testator dies
- This authority is CONFIRMED by the grant of probate

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7
Q

When do administrators get authority to administer the estate?

A

Upon the issue of the grant

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8
Q

If there are unquoted shares in the estate, who should the PR / Solicitor consult about valuing them?

A

An accountant

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9
Q

Which assets can be accessed WITHOUT a grant?

A
  1. Payments made to persons that do not exceed 5000 (at discretion of institution)
    - Money in national savings bank and trustee savings bank
    - national savings certificates and premium bonds; and
    - money in building societies
  2. CHATTELS
  3. CASH
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10
Q

Which assets of the estate pass outside of the PRs hands

A
  1. Joint property
  2. Insurance policies assigned or written in trust
  3. Pension benefits
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11
Q

How must the fee for forms PA1A / PA1P be paid?

A

By cheque
- 273 where estate exceeds 5000

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12
Q

What must be sent to HMCTS to obtain the grant

A
  1. Will or codicil
  2. Potentially, an Affidavit or Witness statement showing:
    i. due execution or capacity
    ii. knowledge and approval
    iii. Evidence as to remote witnessing
    iv. evidence of plight and condition
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13
Q

What should the PRs do if the will is ‘lost’

A
  1. If will is lost or accidentally destroyed, grant can be obtained with a copy of the will or reconstruction
    - Must submit application supported by evidence to get the grant
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14
Q

Under which circumstances will the PRs prepare an IHT400?

A

If the estate is not EXCEPTED

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15
Q

Under which circumstances will the PRs prepare an IHT401?

A

For a non-dom with a NON excepted estate

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16
Q

When does IHT400 / 401 have to be submitted?

A

Within 12 months of the end of the month in which the death occurred

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17
Q

If PRs think an estate is excepted (so do not submit IHT400) and later learn it is NOT, what must they do?

A

Submit IHT400 within 6 months of this realisation

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18
Q

Excepted Estates: Deaths on or after 1 Jan 2022

A
  1. Small Estates
  2. Exempt Estates
  3. Non-domiciled estates
19
Q

Conditions: Small Estates

A
  1. Gross value of estate for IHT purposes + specified transfers does not exceed NRB
  2. Deceased died a UK Dom
  3. No more than 250 000 of it is settled property
  4. No more than 100 000 of it is outside the UK
  5. Specified transfers did not exceed 250 000
20
Q

If the deceased makes a chargeable transfer (gift) of unquoted shares in the 7 years before death, can they still be an exempt estate for IHT purposes (either small or completely exempt)?

A

NO! BPR and APR are ignored when valuing specified transfers in this context.

21
Q

Exempt Excepted Estates: Requirements

A
  1. Died UK Dom
  2. Of property passing under will / intestacy, chargeable trust property does not exceed 250 000 and this + exempt amounts does not exceed 1M
    - no more than 100k outside the UK
  3. No chargeable transfers in the 7 years before death other than specific transfers where agg value transferred did not exceed 250 000
  4. Gross value of estate (+specified transfers + specified exempt transfers) does not exceed 3M
  5. Net chargeable estate after deduction of debts and spouse / charity exemption (+ specific transfers + specified exempt transfers) must NOT exceed NRB - taking account transferred NRB from a spouse
22
Q

When is IHT due?

A

6 months after the end of the month in which the deceased died
- Certain property (land and some business property) attract the instalment option

23
Q

If some property attracts the instalment option (and PRs opt to use it) when must they pay the first / subsequent instalments

A
  1. First due within 6 months from the end of the month of death
  2. Other 9 are due at annual intervals
    - Accumulate interest
24
Q

What happens if some instalment option asset (eg. Land) is sold before all the instalments are paid off for IHT

A

The remaining instalments all become instantly payable

25
Q

Different ways to fund IHT

A
  1. Direct Payment Scheme
  2. Life Assurance
  3. Assets realisable without production of grant
  4. Loans from beneficiaries
  5. Bank Borrowing
  6. National savings and Government Stock
  7. Heritage Property in Lieu of tax
  8. Obtaining a grant on credit
26
Q

Non-dom Excepted Estates

A

The third category is where the deceased was never domiciled or treated as domiciled in the United Kingdom, and owned only limited assets in the United Kingdom.

27
Q

If an executor (of a group of them) is a minor:

A

Where one of several executors is a minor, the other(s) being adults, probate can be granted to the adult executor(s) with power reserved to the minor to take a grant at a later date. If the administration of the estate has not been completed by the time the minor attains 18 years, an application for a grant of double probate can be made to enable the former minor to act as executor alongside the other proving executor(s).

28
Q

What if the only executor appointed in the will is a minor

A

someone must take the grant on behalf of the minor as it would be impracticable to leave the testator’s estate unadministered until the executor reaches 18 years. A grant of letters of administration with will annexed for the use and benefit of the minor will be made, usually to the parent(s) or guardian(s) of the minor, until the minor attains 18 years. On obtaining majority, the executor may apply for a cessate grant of probate if the administration has not been completed

29
Q

What happens if an executor ‘renounces’

A

They renounce their right to take the grant
-their rights cease and administration proceeds as if they were never appointed

30
Q

When can an executor NOT renounce their powers of administration

A

If they have already inter-meddled in the estate

31
Q

Formalities for an executor renouncing their power to administrate

A

Renunciation must be made on Form PA15, signed by person renouncing (and signature witnessed) and renunciation must be filed with HMCTS (normally done by the PRs who are applying for a grant when they lodge their application)

Executors who are also trustees will remain trustees even if they renounce (they would have to disclaim trusteeship separately)

32
Q

If an individual is both an executor and a trustee, does renouncing their exectorship also renounce their trusteeship?

A

NO

33
Q

When would a grant of probate be obtained limited to part only of the estate
- how does this affect the max # of executors who can take a grant of probate?

A
  • normally the case where particular expertise is required (eg. an author’s will appoints literary executors to deal with their books and general executors to deal with everything else)
    • Up to 4 executors can take the grant limited to the writings and up to four for the estate
34
Q

When will a grant of letters of administration with the will annexed by applied for?

A

If there is a valid will but no executor able and willing to act, the appropriate grant is letters of administration with will annexed. This is the case whether or not the will disposes of the whole of the testator’s property.

35
Q

Who is entitled to apply for a grant of letters of admin with will annexed?

A

the person or persons entitled to a grant in respect of a will shall be determined in accordance with the following order of priority, namely:

  1. the executor …;
  2. any residuary legatee or devisee holding in trust for any other person;
  3. any other residuary legatee or devisee (including one for life) or where the residue is not wholly disposed of by the will, any person entitled to share in the undisposed of residue (including the Treasury Solicitor when claiming bona vacantia on behalf of the Crown), provided that:

etc. etc.

36
Q

of administrators

A
  1. Could be 1 but if there is a life interest or property passes to a minor, court required 2
  2. grant will not be issued to more than 4
37
Q

If two or more people are entitled to take the grant of administration with will annexed (equally) - need they provide notice to the others of their application?

A

Where two or more people are entitled in the same degree, a grant can be made on the application of any one of them without notice to the other or others.

38
Q

Can administrators renounce their entitlement to apply for the grant with will annexed?

A

Yes
- this will not be lost if they intermeddle

39
Q

When is Form PA1A used

A

Administrators applying for a grant of (simple) letters of administration

  • where the deceased died without a valid will and so is totally intestate.
40
Q

Who is entitled to the grant of simple letters of administration

A

ORDER:
The person or persons having a beneficial interest in the estate shall be entitled to a grant of administration in the following classes in order of priority, namely:

  1. the surviving spouse or civil partner;
  2. the children of the deceased and the issue of any deceased child who died before the deceased;
  3. the father and mother of the deceased;
  4. brothers and sisters of the whole blood and the issue of any deceased brother or sister of the whole blood who died before the deceased;
  5. brothers and sisters of the half blood and the issue of any deceased brother or sister of the half blood who died before the deceased;
  6. grandparents;
  7. uncles and aunts of the whole blood and the issue of any deceased uncle or aunt of the whole blood who died before the deceased;
  8. uncles and aunts of the half blood and the issue of any deceased uncle or aunt of the half blood who died before the deceased.
40
Q
A
41
Q

If no one in the statutory list of individuals is present (/ has a beneficial interest in the estate) to apply for a grant of simple letters of administration: what happens?

A
  1. If no beneficial interests in this list, Treasury Solicitor can get a grant claiming bona vacantia on behalf of the Crown
  2. If persons have been cleared off, grant can be made to creditor of deceased or any person who may have a beneficial interest in the event of an accretion
42
Q

Can power be reserved for an administrator if there are 5 administrators with equal entitlement (for a deceased totally intestate)

A

No, will have to select 4

  • may not all apply anyways
43
Q

Grant of simple letters of administration: when will 2 administrators be required (min)

A

If the intestacy created minority interests through property being held for minors on statutory trusts

WAE (9 decks)

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