The Law of Gifts and Succession Flashcards
You decide to make a will. You sign it with your brother and two cousins present. Michael is left £5000 under the Will. Can he inherit the £5000?
Michael may inherit the £5000 under the Will as there are two other witnesses to the Will
At the time of making his Will, Suleman owned a VW motor car. In his Will he made the following gift “I give my VW motor car to Alexandra Johnson”. When he died, he no longer owned the car. How is this dealt with?
Alexandra receives nothing as Suleman’s estate no longer contains the VW car meaning the specific legacy fails by reason of ademption
True or false, a Will may be revoked by destruction by the testator or destruction by a third party on the testator’s instruction given by text.
False, destruction must me made in the presence of the testator - the text implies they are not in each other’s presence
True or false, a Will can be revoked by the divorce of the testator.
False, divorce only affects gifts and appointments in the Will in favour of the former spouse or civil partner, it does not revoke the whole Will
What does freedom of testation mean?
An individual may leave their estate to whomever they wish
s37 IHTA 1984 deals with the abatement of gifts, specifically it deals with the position where…
the legate loses their entitlement to the gift as it has been used wholly or in part to pay the deceased’s liabilities or expenses of the executor
What does the s71A IHTA 1984 provision for a bereaved minor’s trust do?
It includes a statutory trust established in favour of bereaved children under intestacy rules, the trust arises because the deceased parent died without having made a Will and is not survived by a spouse but by minor children
What does donatio mortis causa mean?
When a person makes a gift while they are alive but it is conditional upon and intended to take effect, on their death
What is a gift made during the lifetime of a person known as?
Inter vivos
What ownership do the personal representatives get when a person dies?
They become the absolute owners of the deceased’s whole property both in law and equity
Who are executors appointed by?
The court
True or false, administrators derive their powers from the grant of probate?
False
What are the primary duties of personal representatives?
Collect in the assets of the estate and pay the expenses of the estate
True or false, to be a valid will, a will must be signed by the testator?
True
True or false, only wills set out in writing are valid?
True
