Basic Principles of Laws of Wills and Succession

Question 1

Basic Prinicples Wills and Succession

Valid Will as per s9 Wills Act 1837 Requires:

4

Answer 1

1. In writing & signed by testator (or someone in their direction)
2. Signature appears to show they intended to give effect to the will
3. Signature made/acknowledged by testator in presence of 2 or more witnesses at same time
4. Each witness either attests & signs or acknowledges signature in presence of testator

Question 2

Basic Prinicples Wills and Succession

Devise

1

Answer 2

A gift of freehold land

Question 3

Basic Prinicples Wills and Succession

Bequest/Legacy

1

Answer 3

A gift of personal property

Question 4

Basic Prinicples Wills and Succession

Specific Legacy

1

Answer 4

Gift of a specific thing beloning to testator (“My picasso”)

Question 5

Basic Prinicples Wills and Succession

General Legacy

1

Answer 5

Gift of an unspecified item (“a car”)

Question 6

Basic Prinicples Wills and Succession

Pecuniary Legacy

1

Answer 6

A general legacy which is money (“£1,000 to Dan”)

Question 7

Basic Prinicples Wills and Succession

Demonstrative Legacy

1

Answer 7

Gift of a general nature paid from a specific fund (“£1,000 from my HSBC account”)

If no funds, it comes from Residue

Question 8

Basic Prinicples Wills and Succession

Residuary Legacy

1

Answer 8

The part of the estate when all debts are paid, gifts distributed (usually largest part)

Question 9

Basic Prinicples Wills and Succession

Abatement

1

Answer 9

The process of deciding what gift should be paid or not

Question 10

Basic Prinicples Wills and Succession

Contingent Gift

1

Answer 10

Gift to a child with a pre-condition (“when they turn 21”)

Question 11

Basic Prinicples Wills and Succession

Vested Gift

1

Answer 11

A gift with no pre-condition and B is entitled outright (placed on trust if B under 18)

Question 12

Basic Prinicples Wills and Succession

Ademption

1

Answer 12

Refers to the failure of a specific gift if its no longer part of the estate when testator dies

Only applies to Specific Gifts and not General Gifts

Question 13

Basic Prinicples Wills and Succession

Lapse of a Gift

1

Answer 13

Where a B pre-deceases the testator (absorbed into the Residuary Estate unless contrary intention)

Gift can be saved where B is child or direct descendant of testator and

Question 14

Basic Prinicples Wills and Succession

Capacity to make a Will

3

Answer 14

1. T must have sufficient mental capacity
2. T must have necessary intention
3. Proper legal formalities must be met

Question 15

Basic Prinicples Wills and Succession

Banks v Goodfellow 3 Criteria for Capacity

3

Testator must understand..

Answer 15

1. The nature of the Act
2. The extent of their Assets
3. Any moral claims (they don’t have to comply)

Question 16

Basic Prinicples Wills and Succession

Revocation of Will

4

A will may be revoked by

Answer 16

Marriage (automatic)
Another will or Codicil
Destruction
A properly executed declaration by testator