Chapter 2 - Administration of Estate - What Happens Upon Death? Flashcards

1
Q

ADMINISTRATION OF ESTATE - WHAT HAPPENS UPON DEATH

Overview

A

1) Testate

2) Intestate

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2
Q

ADMINISTRATION OF ESTATE - WHAT HAPPENS UPON DEATH

Testate

A

Grant of probate:

  • probate is granted to the executors appointed in the will;
  • max: 4 executors;
  • executors must distribute the estate according to the will.
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3
Q

ADMINISTRATION OF ESTATE - WHAT HAPPENS UPON DEATH

Testate

  • Will declared to be invalid
A

Grant of letter of administration:

  • LA will be granted in cases where a will is declared to be invalid.
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4
Q

ADMINISTRATION OF ESTATE - WHAT HAPPENS UPON DEATH

Intestate

A

Grant of letter of administration:

  • any interested party can apply to be the administrator;
  • administrators must distribute the estate according to Distribution Act 1948
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