Personal Representatives Flashcards
What is the role of the Personal Representatives (RPs)?
ADMINISTER the estate
What are the 3 main duties of a PR? (Tip - CDD)
(1) COLLECT - Collect Deceased’s assets
(2) DEBTS & LIABILITIES - Pay D’s debts & liabilities
(3) DISTRIBUTE - Distribute assets to Beneficiaries under will / intestacy
What are the 2 types of PRs?
(1) Executor
(2) Administrator
How are the 2 types of PRs appointed:
(1) Executor
(2) Administrator
(1) By Will
(2) By Court
What is ‘Probate’? (2 concepts)
Legal process of:
(1) VALIDATING the will
(2) AUTHORISING executor(s) administer estate
Re EXECUTORS of a Will, what is the:
(1) Minimum
(2) Maximum
(3) Maximum can apply for GOR / PROBATE
(1) 1
(2) None
(3) BUT MAX 4 (apply for GOR / probate)
In a Will for the ‘Appointment of Executor’ Clause to NOT be VOID for Uncertainty:
(1) What must be done?
(2) What is the exception to this?
(1) Executors must be NAMED
(2) Law firm = executor - state ‘a partner’ will be executor
If an Executor REFUSES to act:
(1) What can be done?
(2) Who is able to do this and who will it normally be?
(1) Apply to court for CITATION
(2) Anyone INTEREST in estate (usually beneficiary)
An Executor Refuses to Act and a Beneficiary applies to the Court for a ‘CITATION’. This will request the Executor ‘makes an appearance’. If they FAIL to do so, who will the court appoint as an Executor if they are:
(1) Sole Executor
(2) > 1 Executor
(1) Administrator
(2) Co-executor
What are 3 examples of people who CANNOT be Executors?
(1) Lack mental capacity
(2) Bankrupt
(3) Criminal record
(1) Can a MINOR be appointed the EXECUTOR of a Will?
(2) If so, what are the limitations of appointing them?
(1) Yes
(2) CANNOT apply for PROBATE / GOR UNTIL ADULT (i.e. 18)
If an Executor DOES NOT WANT to Act, what 2 methods exist? (Tip - 2Rs)
(1) RENOUNCE probate
(2) RESERVE their power
One way an Executor that does NOT WANT to be one can remove themselves is to ‘RENOUNCE probate’.
(1) How is an Executor able to do this?
(2) What will Remove the right to ‘Renounce’ their role?
(1) WRITTEN Form (DEED) to PROBATE REGISTRY
(2) IF Already taken any steps to Administer estate
Another way an Executor that does NOT WANT to be one can remove themselves is to ‘RESERVE their power’.
(1) What does ‘RESEVE their power’ mean?
(2) When can this method ONLY be used?
(1) Kept on ‘Substitution Bench’ unless needed (i.e. REMAIN as an executor but don’t act)
(2) >1 Executor
There are two methods for an Executor DOES NOT WANT to Act to remove themselves, (1) RENOUNCE probate (2) RESERVE their power.
For the 2 methods above, does the person remain as an Executor of the estate?
(1) Renounce - NO
(2) Reserve - YES (just do NOT Act as one)
What is the name of a Person who wrongly believes they are an Executor?
Executor ‘de son tort’
A person who wrongly believes they are an Executor (‘executor de son tort’).
(1) What type of LIABILITY will they have?
(2) What are 2 examples of liability they may have?
(1) PERSONAL Liability
(2)
(a) Losses to estate
(b) Chargeable IHT
(1) How many Administrators will the court GENERALLY appoint?
(2) What are the 2 exceptions to this?
(3) How many will they appoint for the exceptions in (2)?
(1) 1
(2)
(a) MINOR Beneficiary (u18)
(b) LIFE-INTEREST TRUST in estate
(3) 2
The Court will GENERALLY Appoint 1 Administrator.
(1) What are the 2 exceptions to this?
(2) How many will they appoint for these exceptions?
(1)
(a) MINOR Beneficiary (u18)
(b) LIFE-INTEREST TRUST in estate
(2) 2
What are the 2 types of ‘Administrators’?
(1) Administrator WITHOUT A WILL
(2) Administrator WITH A WILL
One type of Administrator is an ‘Administrator WITHOUT A WILL’.
What are the 2 main ways this occurs?
(1) NO Will
(2) INVALID Will
One type of Administrator is an ‘Administrator WITH A WILL’.
What are the 4 main ways this occurs?
(1) NO Executor Named (in Will)
(2) Named Executor CANNOT / WILL NOT Act
(3) Named Executor PREDECEASES T
(4) Named Executor FORMER SPOUSE of D
If a person dies Intestate, what is the statutory order the court will appoint an Administrator? (List 10)
(1) Spouse
(2) Children (+ ‘issue’ see (3))
(3) Grandchildren
(4) Parents
(5) Siblings (whole blood) + issue
(6) Siblings (half blood) + issue
(7) Grandparents
(8) Uncles / Aunts (whole blood) + issue
(9) Uncles / Aunts (half blood) + issue
(10) Crown
If a person dies Intestate, what is the statutory order the court will appoint an Administrator? (List 10)
1) Spouse
(2) Children (+ ‘issue’ see (3))
(3) Grandchildren
(4) Parents
(5) Siblings (whole blood) + issue
(6) Siblings (half blood) + issue
(7) Grandparents
(8) Uncles / Aunts (whole blood) + issue
(9) Uncles / Aunts (half blood) + issue
(10) Crown
