Personal Representatives and Assent Flashcards
What are Personal Representatives?
Personal Representatives include Executors and Administrators.
Are executors entitled to remuneration?
The general rule is that executors are not entitled to remuneration.
This is an important exam point which is always coming in the exam.
What are the exceptions for executor remuneration?
Executors or administrators may be remunerated in the following circumstances: 1) Upon a Court Order 2) Recouping of Out-of-pocket expenses 3) There is a Charging Clause in a Will 4) The executor is also appointed a Solicitor.
What is renunciation in executorship?
Renunciation is allowed as executorship is voluntary, but the executor must take positive steps to renounce executorship.
How can an executor renounce executorship?
Renunciation can be done by: Filing an Affidavit of renunciation, failing to respond to a citation within 21 days, or if the executors died before taking the grant.
Can an executor withdraw renunciation?
The executor can withdraw the renunciation at any time with leave of the Probate Registrar as long as there has not been a grant to other persons waiting in line.
What is an Executor de Son Tort?
An Executor de Son Tort acts without due authorization, such as unauthorized interference with estate properties.
What are the powers of Personal Representatives?
Powers include postponing distribution, selling or leasing property, appropriating assets, and managing the estate.
What are the duties of Personal Representatives?
Duties include proving the Will, avoiding conflicts of interest, ensuring a decent burial, gathering the estate, paying debts, issuing assent, keeping records, and duty of care.
What are the liabilities of Personal Representatives?
Liabilities include waste of the estate, conversion to personal gain, paying creditors, intermeddling, failure to pay estate taxes, and liability as Executor de son tort.
What are the reliefs from liabilities of Executors?
Reliefs include express provisions in the Will, relief from beneficiaries/creditors, relief from Court, and a plea of limitation of Statute.
What accounts must Personal Representatives keep?
Accounts include an inventory of the property, vouchers, and an account of administration detailing all expenditures and assets.
When must accounts be filed by Personal Representatives?
The account is to be filed in Court every 12 months until the administration is completed.
What can trigger a call for an account by the Probate Registrar?
Triggers include complaints of maladministration, applications for removal, personal representative’s discharge, or completion of administration.
How can Personal Representatives be discharged?
Discharge can be applied for in the Court that granted Probate/Letters of Administration after completing the administration and filing final accounts.
