Appointment and liability of PRs

Question 1

What protection can PRs seek if a beneficiary/creditor is unknown and missing? How long does the unknown person(s) have to bring a claim?

Answer 1

s27 notice in Gazette

2 months

Question 2

What protection can PRs seek if the beneficiary is known and missing? Name 2 disadvantages of this method?

Answer 2

Benjamin order

Time and money consuming

Question 3

Name 3 cheaper/easier alternatives than using a Benjamin order? What is the time period contingency for (1)?

Answer 3

1. Presumption of death act. Must be missing for 7 years or more
2. Missing beneficiary insurance
3. Indemnity from beneficiary

Question 4

Name 2 protections that PRs can use which involves the court’s help?

Answer 4

1. Seeking court directions (time/££)
2. Payments into court

Question 5

What protection can be offered in the will for PRs? What can you not exclude?

Answer 5

Exemption clauses in will

Cannot exclude fraud

Question 6

Is it possible for the court to exonerate a PR in whole or part? Name the statute and its 2 conditions

Answer 6

Yes. Using s61 Trustee Act 1925 if PR:

i) acted honestly and reasonably ii) ought fairly to be excused

Question 7

When do you need to appoint 2 PRs? (2)

Answer 7

1. minor interest
2. life interest trust

Question 8

When would you use NCPR 20 to appoint administrator?

Answer 8

no valid will or no executor who is willing/able to act

Question 9

When would you use NCPR 22 to appoint administrator?

Answer 9

No will at all

Question 10

What is the statutory entitlement under NCPR 20 based on? State the entitlement order (a-f)

Answer 10

distribution of the estate under the will:

a. executor
b. trustee of the residuary estate
c. any residuary beneficiary
d. PRs of anyone in (c)
e. any other beneficiary or creditor
f. PRs of anyone in (e)

Question 11

What is the statutory entitlement under NCPR 22 based on?

Answer 11

Familial relationship. It is the same as the intestacy rules under s44

Question 12

Who must you clear off under NCPR 20/22?

Answer 12

Those with a better entitlement or equal rights to you

Question 13

What are the 3 options if an executor cannot/unwilling to act?

Answer 13

1. renounce
2. reserve
3. appoint attorney

Question 14

What are the 2 options if an administrator cannot/unwilling to act?

Answer 14

1. renounce
2. appoint attorney

Question 15

What must you not have done if you want to renounce your right? Does this apply to administrators as well?

Answer 15

1. Intermeddle (save for acts of humanity ie. funeral)
2. No

Question 16

What must you apply for to reserve you right?

Answer 16

grant of double probate

Question 17

What must an executor provide to person reserving a right before they apply for a grant?

Answer 17

notice of intention

Question 18

What is the longest you may delegate power of attorney?

Answer 18

12 months MAX