Beneficiaries' rights and remedies

Question 1

When does a beneficiary acquire an interest in estate assets?

Answer 1

A beneficiary does not have a legal or equitable interest in the estate assets before administration is completed.

Question 2

Can a beneficiary bring an action against a PR?

Answer 2

Yes, a beneficiary can bring a personal action against a PR.

Question 3

Is a PR liable if they acted honestly and reasonably?

Answer 3

No, a PR will not be liable if they acted honestly, reasonably, and ought fairly to be excused.

Question 4

What is a tracing claim?

Answer 4

A tracing claim allows a beneficiary to recover property which the PRs have wrongly transferred to someone else.