Wills and Estate Administration

Question 1

In what two situations will the rules of intestacy apply?

Answer 1

1. Deceased died without making a will, or at least a valid will
2. Deceased’s will does not dispose of all of their property

Question 2

What is the spouse’s entitlement where there are no issue, i.e. children?

Answer 2

The entire estate

Question 3

What are the spouse’s three entitlements where there are issue?

Answer 3

• Personal chattels
• £322,000
• Half the residue absolutely

Question 4

What is a spouse with issue’s other option with regard to the matrimonial home?

Answer 4

They can opt to take the matrimonial home (or deceased’s interest in it if they were tenants in common) in satisfaction their entitlement to the three things in the previous card (chattels, 322k, half the residue), and the children will take the residue (after IHT)

If the property is worth more than the entitlement, the spouse must pay this equality money to the estate

Question 5

What is the list of eight beneficiaries who will take intestate property if there is no spouse, and how is this dealt with?

Answer 5

As soon as a beneficiary in the below list is identified, subsequent beneficiaries are ignored:

1. Issue of the intestate on statutory trusts
2. Parents (equally if both alive)
3. Full brothers or sisters on statutory trusts
4. Half brothers and sisters on statutory trusts
5. Grandparents (equally if both alive)
6. Full uncles and aunts on statutory trusts
7. Half uncles and aunts on statutory trusts
8. The Crown as bona vacantia

Question 6

What happens if a potential beneficiary (i.e. a beneficiary with a contingent interest) who was living at the intestate’s death, dies before their interest vests?

Answer 6

Their issue take the deceased parent’s share

Question 7

What happens if a potential beneficiary (i.e. a beneficiary with a contingent interest) who was living at the intestate’s death, dies before their interest vests, but they have no issue?

Answer 7

The estate will be administered as if that beneficiary has never existed

Question 8

Although the intestacy rules apply whether or not an individual’s parents were married, what does the law presume if a person dies intestate and their parents were never married?

Answer 8

The law presumes that the father has predeceased the intestate child, unless there is evidence to the contrary or the father is on the birth certificate

Question 9

In an intestacy situation, what are the six categories of property that do not form part of the deceased’s succession estate and are therefore not payable to personal representatives?

Answer 9

1. Property owned as beneficial joint tenant
2. Life assurance policies
3. Some pension scheme death benefits
4. Nominated property in savings schemes
5. Life interests in trust property
6. Gifts where donor has received a benefit

Question 10

Why does property owned as a beneficial joint tenant not pass under intestacy and to whom does it pass?

Answer 10

It passes to the other joint tenant automatically under the right of survivorship

Note that this obviously does not apply to tenancies in common, and may be the subject of a wrong answer choice

Question 11

What topics does the full Wills and Estate Administration deck contain, and how do I access it?

Answer 11

The full deck contains over 230 flashcards dealing with the SRA syllabus:

• Execution, Alteration, Amendment, Revocation, and Interpretation of Wills;
• Intestacy and Property Passing Outside the Will/Intestacy;
• Personal Representatives;
• Grants and Pre-Grant Procedure;
• Dealing with HMRC;
• Duties of Personal Representatives;
• Administrative Powers and Protection of PRs;
• Collecting and Realising Assets; Post-Death Changes;
• Legacies and Residue;
• Estate Accounts;
• Assents;
• Rights and Remedies of Beneficiaries;
• Provision for Family and Dependents Act.

Access is currently £25 per full subject, e.g. Wills and Estate Administration, or £250 for access to all 16 SQE1 decks / £200 for 13 SQE2 decks. Visit www.cleverprep.co.uk to arrange full access.