administration (week 4)

Question 1

Why is a grant needed?

Answer 1

Grant is proof of the executor’s authority of assets within the succession estate

Question 2

where does an executor get their power from?

Answer 2

power is conferred by the grant from the will

Question 3

What is administration?

Answer 3

The legal process when someone dies for managing the distribution of their estate, paying debts, taxes, estate expenses and the beneficiaries.

Question 4

What is a personal representative?

Answer 4

The people permitted by law to administer a deceased’s estate

Question 5

what is an executor?

Answer 5

A personal representative appointed by will

Question 6

what is an administrator?

Answer 6

A personal representative appointed by statute

Question 7

What is a grant of representation?

Answer 7

The court order confirming the authority of the PRs to act (mainly their right to collect the deceased’s assets and distribute the estate

Question 8

why is a grant of representation necessary?

Answer 8

Because it established the:
- Authority of the PRs to act (mainly, their right to collect assets and distribute the estate) and
- Validity of the deceased’s will, or, that the deceased died interstate

Question 9

what is the role of a PR?

Answer 9

PR must administer the estate of the deceased. have statutory duty to collect in the deceased’s assets, ensure deceased’s debts are paid and outstanding tax liabilities are met, and then distribute assets to beneficiaries who are entitled.

Question 10

how do solicitors get involved in the administration of estate? (3 reasons)

Answer 10

instructed by the PR
appointed as an executor (professional PR)
instructed to act on behalf of a party to a contentious probate matter

Question 11

what is a grant of representation?

Answer 11

court order confirming the authority of those named in it to administer the estate. grant provides proof of the PRs authority to act and therefore, required

Question 12

what are the three types of grants of representation?

Answer 12

grant of probate
grant of letters of administration (with will)
grant of letters of administration (died interstate)

Question 13

when is a grant of probate required? (3 things)

Answer 13

deceased left a valid will
will appoints executors
at least one executor appointed will act

Question 14

if a beneficiary is a child, how many executors do you need?

Answer 14

2

Question 15

what is the max number of executors?

Answer 15

4

Question 16

what is the minimum number of executors?

Answer 16

1

Question 17

when is a grant of letters of administration (with will) appropriate?

Answer 17

deceased left a valid will but will appoints executors who are unwilling/not able to act

Question 18

when is a grant of letters of administration appropriate?

Answer 18

deceased died interstate

Question 19

what assets dont need a grant?

Answer 19

bank accounts less than £5,000
many banks and financial institutions will release up to £15,000
household possessions and cash in the home
assets outside of the succession estate

Question 20

if you arrange the funeral and register the death are you intermeddling?

Answer 20

no

Question 21

when is an estimate not appropriate for a single chattel item?

Answer 21

if the single item is worth more than £500 (or an unusual item)

Question 22

how are quoted shares estimated on value?

Answer 22

to establish the date of death value; valued by taking the lower of the 2 prices on the stock exchange daily list and adding ¼ of the difference between the higher and lower value.

Question 23

when are you deemed not having capacity to act as an executor?

Answer 23

• Pre-deceased the testator
• Are a minor
• Lack capacity
• Are the testator’s former spouse/civil partner and the divorce took place after the will was made

Question 24

what is grant of double probate?

Answer 24

it means that power can be reserved to any remaining executors (when there was more than 4) who did not manage to become an executor. if the vacancy of executor arose then they would be able to apply at a later date to carry on with the administration.

Question 25

when is a grant of letters of administration de bonis non issued?

Answer 25

administration is incomplete
there are no remaining PRs
there has been a previous grant of representation

Question 26

what is clearing off?

Answer 26

the applicant must explain why anyone with a better right to become an executor is not doing so

Question 27

if an executor is unwilling to act what can they do?

Answer 27

renunciation
reserving power
appointing an attorney

Question 28

can you renounce if you have intermeddled?

Answer 28

no

Question 29

what is renounciation?

Answer 29

formally renounce. must sign a form of renunciation.

Question 30

what is reserving power?

Answer 30

if an executor does not want to act initially then they can retain option to do so later. only can be used for grant of probate. reserve power by another executor granting of probate.

Question 31

what is the PA1P form?

Answer 31

deceased left a valid will (executors act under the will or administrators appointed by NCPR 20)

Question 32

what is an affidavit?

Answer 32

a formal written statement of fact which a person signs under oath

Question 33

when is an affidavit required? (4 reasons)

Answer 33

compliance with s9 Wills act 1837
knowledge and approval
date
physical condition of the will

Question 34

what happens if the original will is missing?

Answer 34

NCPR 54 permits a copy of the will to be admitted to probate if there is a court order approving this.