The planning, management and progression of the administration of an estate including claims under Inheritance (Provision for Family Dependants) Act 1975 Flashcards
When is the court likely to make an order under IPFDA claims?
If it feels reasonable financial provision has not been made from deceased’s estate for the applicant
What is the eligibility for an IPFDA claim?
Be within the jurisdiction of the IPFDA 1975
Demonstrate they fall in a recognised category of eligible applicants
Make claim within the prescribed time limit
What are the categories of applicant for an IPFDA claim?
a) Spouse / civil partner of deceased
b) Former spouse / civil partner who has not remarried / formed subsequent civil partnership
c) Person who cohabitation with deceased as if they were spouses / civil partners for two years prior to death
d) Child of deceased
e) Any person treated by the deceased as a child of their family
f) Any person who was maintained (wholly / partly) by the deceased immediately before their death
What are the time limits for an IPFDA claim?
Claim for reasonable financial provision must be made within six months of the date the grant of representation is issued by the Probate Registry.
What is the two standards for ‘reasonable financial provision’?
1) Spouse standard (higher standard)
2) Maintenance standard
What is the IHT consequence for a beneficiary varying part of their beneficial interest?
Means the gift from original beneficiary is read-back to date of deceased’s death and treated as been made by deceased for new beneficiary
What are residuary gifts?
Gift of all the testator’s property (from the succession estate) which has not been disposed of under the will or any later codicil.
When should a trust be imposed on residuary gifts?
1) A beneficiary is given a life interest in the residue
2) A discretionary trust of the residue is to be set up
3) The residue is given to more than one person
4) There are contingent or minor interests
What is the presumption in s24 Wills Act 1837?
Unless a contrary intention is shown, the will speaks from date of testator’s death in respect of identifying subject matter of a gift
What would contrary intention to s24 WA 1837 be?
Demonstrated by use of words such as ‘my’, ‘now’ or ‘at present’ when describing a gift. Such words make execution of the will the relevant date
In absence of express provisions who pays the IHT on gifts in a will?
IHT payable out of the residue as a general testamentary expense
In absence of express provision who bears the burden of expenses and costs of transfer in the will, for gifts?
Specific beneficiaries bear burden of:
a) Cost of delivery of the item of property
b) Expenses incurred since date of death in preserving item / ensuring upkeep
In absence of contrary intention who bears burden for charges?
General rule from s35 Administration of Estates Act 1925 (AEA) unless the will shows a contrary intention, the asset charged bears liability for payment
