Wills Flashcards
Order of priority of grant where they left a will…
Executor, residuary trustee, residuary beneficiary,
Methods of funding initial payment of inheritance tax?
- Apply to deceased’s bank to make payment to HMRC
- Use amounts due from estate that don’t require grant.
- Apply for loan from bank
Liabilities for PRs
- Breach of duty - Negligence, maladministration, breach o fiduciary duties - court relief if acted honestly.
- failing to distribute to unknown beneficiaries - london gazette and wait 2 months.
- Failure of known but missing = Benjamin order, insurance , indemnity from known beneficiary, set aside reserve fund.
Claims under inheritance act 1975
application made within 6 months + eligible under law (Spouse, former, cohabitate 2 years, Child, former child). + court is satisfied there are no reasonable provisions.
What must be satisfied for mental capacity to be presumed?
- T had such a capacity at time of giving instructions
- Will is prepared in accordance with instructions and
- At time of executing will, T was capable of understanding and did understand they were executing.
Who does the burden of proof lie with when regarding capacity?
lies with person propounding the will, but if it is demonstrated that the will is formally valid and appears rational - burden shifts to person opposing it.
When is capacity not presumed?
If there is long term mental illness.
Who is burden of proof with undue influence on?
Burden of proof of undue influence falls upon the person challenging the will.
