Intestacy

Question 1

What are the 2 types of ‘Intestacy’ and when will each occur?

Answer 1

(1) FULL INTESTACY - NO Will
(2) PARTIAL INTESTACY - Will FAILS Distribute ALL Property in estate

Question 2

Under the ‘Intestacy Rules’, are the following considered an ‘Issue’:
(1) Children
(2) Grandchildren
(3) Adopted children
(4) Step-children

Answer 2

(1) Yes
(2) Yes
(3) Yes
(4) No

Question 3

Under the ‘Intestacy Rules’ if the Deceased has:
(a) Spouse
(b) NO Issue

What will the spouse receive?

Answer 3

WHOLE Estate (ABSOLUTELY)

Question 4

Under the ‘Intestacy Rules’, how long must a SPOUSE out live the Deceased to Inherit?

Answer 4

28 days

Question 5

Under the ‘Intestacy Rules’ if the Deceased has:
(a) Spouse
(b) Issue

What does the following receive:
(a) Spouse (3 items)
(b) Issue

Answer 5

(a) Personal Chattels
(b) Statutory Legacy (£322,000)
(c) Half Residue (Absolutely)

(b) Half Residue (on Statutory Trust)

Question 6

Under the ‘Intestacy Rules’ how do you calculate HALF the ‘Residue’?

Answer 6

(Total Estate - Chattels - £322,000) / 2

Question 7

What 3 items make up the ‘Personal Chattels’?

Answer 7

(1) Money
(2) Property MAINLY / SOLELY Business Purposes
(3) Property SOLELY Investment

Question 8

What is the ‘Statutory Legacy’?

Answer 8

£322,000

Question 9

Under the ‘Intestacy Rules’ if the Deceased has:
(a) NO Spouse
(b) Issue

What does the Issue receive?

Answer 9

WHOLE Estate (on STATUTORY TRUST)

Question 10

Under the ‘Intestacy Rules’ if the Deceased has:
(a) NO Spouse
(b) NO Issue

Who receives the estate?

Answer 10

Whole Estate passes under STATUTORY ORDER OF ENTITLEMENT

Question 11

Under the ‘Intestacy Rules if the Deceased has (a) NO Spouse (b) NO Issue, the estate passes under the ‘STATUTORY ORDER OF ENTITLEMENT’.

What is the ‘Statutory Order of Entitlement’? (7 categories)

Answer 11

(1) Parents
(2) Siblings (whole blood) + Issue
(3) Siblings (half blood) + Issue
(4) Grandparents
(5) Uncles / Aunts (whole blood) + Issue
(6) Uncles / Aunts (half blood) + Issue
(7) Crown

Question 12

Under the ‘Intestacy Rules if the Deceased has (a) NO Spouse (b) NO Issue, the estate passes under the ‘STATUTORY ORDER OF ENTITLEMENT’.

What is the ‘Statutory Order of Entitlement’? (7 categories)

Answer 12

(1) Parents
(2) Siblings (whole blood)
(3) Siblings (half blood)
(4) Grandparents
(5) Uncles / Aunts (whole blood)
(6) Uncles / Aunts (half blood)
(7) Crown

Question 13

Under the ‘Intestacy Rules if the Deceased has (a) NO Spouse (b) NO Issue, the estate passes under the ‘STATUTORY ORDER OF ENTITLEMENT’.

What are the only 2 categories of people who DO NOT take the estate on ‘Statutory Trusts’?

Answer 13

(1) Parents
(2) Grandparents

Question 14

Under the Intestacy Rules, what can the Surviving Spouse apply for?

Answer 14

Apply to the PRs to ‘APPROPRIATE’ (i.e. be given) the ‘MATRIMONIAL HOME’ (part of their Entitlement in the estate)

Question 15

Under the Intestacy Rules, the Surviving Spouse can apply to the PRs to ‘APPROPRIATE’ (i.e. be given) the ‘MATRIMONIAL HOME’ (part of their Entitlement in the estate).

What 2 conditions are needed to Apply?

Answer 15

(1) In WRITING
(2) Within 12 months ‘Grant of Representation’ issued

Question 16

Under the Intestacy Rules, the Surviving Spouse can apply to the PRs to ‘APPROPRIATE’ (i.e. be given) the ‘MATRIMONIAL HOME’ (part of their Entitlement in the estate).

Can this be done if the Property is held as:
(1) Sole Owner
(2) Tenants in Common
(3) Joint Tenants

Answer 16

(1) Yes
(2) Yes
(3) No (property passes spouse under SURVIVORSHIP)

Question 17

For beneficiaries that hold their interest ‘Statutory Trust’, what type of interest do the following hold:
(1) Minor
(2) Adult

Answer 17

(1) Contingent (until reach 18)
(2) Vested