FLK2 Wills - Validity + Intestacy Flashcards
Can an interest in a house held as beneficial joint tenants (JTs) pass under a will?
No. Passes by survivorship.
Can the proceeds of a life policy payable to the estate pass under a will?
Yes.
Can an interest in a house held as beneficial tenants in common (TIC) pass under a will?
Yes.
Can the proceeds of a life policy written in trust for the deceased’s children pass under the will?
No. Proceeds are paid directly to the children.
Can this pass under an will:
A lump sum payable under the deceased’s company pension scheme; the terms of the scheme allow the deceased to leave a letter of wishes as to the persons to receive the lump sum, but the trustees are not bound to follow the letter.
No. Paid out directly by the trustees of the scheme at their discretion.
Will a value of a trust form part of an estates for probate purposes?
No. The trust fund passes independently of any will.
What is 1 of the requirement under s9 Wills Act 1837?
The will must be in writing.
What happens to the witnesses and witness’s spouses who witness a will and who also have a gift under the will?
The witnesses are unable to take their respective legacies (s15 WA 1837).
Witnesses who also have a gift under the will: even though the legacies will fail does the witnessing itself fail?
No, a will witnessed by a beneficiary remains valid.
If an executor is a witness to a will, does it make the will invalid?
No.
If an executor is a witness to a will, does it prevent the executor from acting?
No.
True or false?
In order to benefit from a parent’s estate under the intestacy rules, an adult child must survive their deceased parent by 28 days.
FALSE.
Under the intestacy rules the 28 day survival requirement only applies to a spouse, not to the other categories of potential beneficiaries.
Under the intestacy rules, how does a deceased’s estate pass to their issue?
On statutory trusts.
How does a person fulfil their contingency interest (turn contingency interested into a vested interest)?
The person must be living at the intestate’s death +
Reach 18 or marry or form a civil partnership earlier.
What happens to a person who dies before the intestate leaving issue?
They are replaced by the issue.
BUT the issue must reach 18 or marry or form CP earlier.
If someone has not reached 18 yet, what interest do they have?
A contingent interest.
What interest do the children of someone who has a vested interest have?
Nothing - no interest because their parent is alive and has a vested interest.
Does a cohabitant have any entitlement under the intestacy rules?
No.
If a person dies without a spouse but with children, how do the children share the estate?
The children are equally entitled the share the estate.
If someone dies without a surviving spouse, what does s46 Administration of Estates Act 1925 say about entitlement?
Key word: Hierarchy
(a) issue on the ‘statutory trusts’, but if none,
(b) parents, equally if both alive, but if none,
(c) brothers + sisters of the whole blood on the ‘statutory trusts’, but if none,
(d) brothers + sisters of the half blood on the ‘statutory trusts’, but if none,
(e) grandparents, equally if more than one, but if none,
(f) uncles + aunts of the whole blood on the ‘statutory trusts’, but if none,
(g) uncles + aunts of the half blood on the ‘statutory trusts’, but if none,
(h) the Crown, Duchy of Lancaster, or Duke of Cornwall (bona vacantia).
Someone dies intestate 3 months ago. Survived by the wife + daughter.
After payments of debts etc, there is:
£800,000 +
Personal chattels worth £2,000 for distribution under the intestacy rules.
How much will the wife receive?
Because the wife survived 28 days, she is sharing the estate with issue so is entitled to: £537,000
- Personal chattels +
- Statutory legacy of £270,000 (fixed) +
- Half of the balance absolutely.
Balance:
£800,000 LESS £270,000 = £530,000 HALF = £265,000 PLUS Personal Chattels £2,000 = £537,000
