Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

SQE2 > Wills & Trusts > Flashcards

Wills & Trusts Flashcards

1
Q

What property passes outside a will?

A

Joint property
Insurance policies (if in trust for specified individuals)
Pension benefits
Trust Property

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

In what order do solicitors advice/deal with property of a deceased?

A

Property passing outside the will
Property passing under the will
Any property not disposed of

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the five type of gifts under a will?

A

Specific
General
Demonstrative
Pecuniary
Residuary

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are the requirements of a valid will?

A

Capacity
Intention
Formalities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

In most circumstances how old must and individual be to make a valid will?

A

18

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What must a testator understand to have capacity?

A

The nature of their acts
The extend of their property
Who a person would usually leave gifts to

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Can a will be valid if a testator had capacity when they gave instructions for a will but did not have capacity when it was executed?

A

Yes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is the presumption of capacity?

A

Executors do not have to prove capacity because there is a presumption that the testator satisfied the mental capacity test. If the will is rational on its face and the testator showed no evidence of mental confusion at the time of making the will.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What must a testator understand to have capacity?

A

The nature of their acts
The extend of their property
Who a person would usually leave gifts to

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Can a will be valid if a testator had capacity when they gave instructions for a will but did not have capacity when it was executed?

A

Yes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Can a will be valid if a testator had capacity when they gave instructions for a will but did not have capacity when it was executed?

A

Yes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What is the presumption of capacity?

A

Executors do not have to prove capacity because there is a presumption that the testator satisfied the mental capacity test. If the will is rational on its face and the testator showed no evidence of mental confusion at the time of making the will.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What must a testator understand to have capacity?

A

The nature of their acts
The extent of their property
Who a person would usually leave gifts to

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

If there is doubt over the capacity of testator when making a will, what should the solicitor do?

A

Ask a medical practitioner to provide a medical report confirming capacity and ask them to witness the will.
The solicitor should record their own view in file note.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What is the presumption of knowledge and approval?

A

A testator who has a capacity and has read the will is presumed to have the requisite knowledge and approval.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

If either of the presumptions to a valid will don’t apply, who has the burden of proving its validity?

A
  • The person putting forward the will (executor)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

When does the presumption of knowledge and approval not arise?

A
  • Testator blind/illiterate/ not signing personally
  • Suspicious circumstances
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

When does the presumption of knowledge and approval not arise?

A
  • Testator blind/illiterate/ not signing personally
  • Suspicious circumstances
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

If the presumptions of capacity exists what must a person prove to challenge the will?

A

Force
Fear
Fraud
Undue influence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

When does the presumption of knowledge and approval not arise?

A
  • Testator blind/illiterate/ not signing personally
  • Suspicious circumstances
13
Q

If the presumptions of capacity exists what must a person prove to challenge the will?

A

Force
Fear
Fraud
Undue influence

14
Q

What are the formalities of a will?

A
  • The will must be in writing
  • The will must be signed
  • The testator must have intended to give effect to his will by his signature
  • The signature must be witnessed
15
Q

What is the presumption of due execution?

A

If the will includes a clause which recites that the s9 formalities were observed known as an attestation clause it is presumed to have been duly executed.

Example ‘signed by X in our joint presence and then by us in hers’.

Anyone challenging the validity of the will on this ground has the burden of proving it was the case.

If a will does not have an attestation clause, the probate registry will be require an affidavit of due execution from a witness or anyone who was present during execution.

16
Q

What are the two basic presumptions of will interpretation?

A
  1. Non-technical words bear their ordinary meaning
  2. Technical words bear their technical meaning.
17
Can extrinsic evidence be used to interpret a will?
Only if the any part of the will is meaningless, or the language used is ambiguous, or evidence shows the wording is ambiguous in light of surrounds circumstances.
17
Can a court rectify a will?
**ONLY** if a court is satisfied that a will is so expressed that it fails to carry out the testators intentions in consequence of either: 1. a clerical error; **OR** 2. of a failure to understand his instructions it **may** order that the will should be rectified.
17
Can extrinsic evidence be used to interpret a will?
Only if the any part of the will is meaningless, or the language used is ambiguous, or evidence shows the wording is ambiguous in light of surrounds circumstances.
17
Can extrinsic evidence be used to interpret a will?
Only if the any part of the will is meaningless, or the language used is ambiguous, or evidence shows the wording is ambiguous in light of surrounds circumstances.
17
Can a court rectify a will?
**ONLY** if a court is satisfied that a will is so expressed that it fails to carry out the testators intentions in consequence of either: 1. a clerical error; **OR** 2. of a failure to understand his instructions it **may** order that the will should be rectified.
17
Assets gifted in a will are normally determined according to those in existence at what time?
The date of death
17
Can a court rectify a will?
**ONLY** if a court is satisfied that a will is so expressed that it fails to carry out the testators intentions in consequence of either: 1. a clerical error; **OR** 2. of a failure to understand his instructions it **may** order that the will should be rectified.
17
Property passing in a will are normally determined according to those in existence at what time?
The date of death
17
Can extrinsic evidence be used to interpret a will?
Only if the any part of the will is meaningless, or the language used is ambiguous, or evidence shows the wording is ambiguous in light of surrounds circumstances.
18
References to beneficiaries are usually construed as to people alive at what time?
The date of execution
19
Reference to 'my children' means
Testator's own children unless specified otherwise (not step-children). Adopted children would be included.
20
If a gift to a charity fails what powers do the court have?
If the gift is exclusively for charitable purposes the court can direct which charity is to benefit
21
If a gift is made to a spouse with a substitution provision to someone else if the spouses pre-deceases a testator, what would happen if the testator and the beneficiary divorced?
The gift would go to the substitutional beneficiary because divorce treats a spouse as if they had died.
21
Why is a gift of something like "my car" problematic?
Generally gifts under a will speak from the date of death. However a contrary intention may be shown in the will. A contrary intention may be inferred if the testator buys a new care before they die. i.e. they intended the gift to be of the previous car? If a gift of property is capable of increase or decrease e.g., 'all my jewellery', it will usually be okay.
21
What is the effect of a codicil on specific gifts that have been replaced?
A codicil is effectively republishing the will. So if a gift of 'my gold watch' is made in 1970 and the testator loses the watch, it will adeem. However, if the testator subsequently bought a new gold watch and then executes a codicil, the gift will be valid.
22
Importance of jointly or in equal shares
If a gift is made jointly e.g., I give £10,000 to 'A and B jointly' and not all of them survive, the survivors will take it all. if made in 'equal shares' survivors will only take their share. If the gift is to a class e.g., 'all my children if more than one' there will be no lapse unless all of the class predecease the testator.
22
Effect of disclaiming or forfeiting a gift.
Beneficiary treated as pre-deceasing so could still pass per stirpes.
23
Effect of disclaiming or forfeiting a gift.
Beneficiary treated as pre-deceasing so could still pass per stirpes.
24
Effect of disclaiming or forfeiting a gift.
Beneficiary treated as pre-deceasing so could still pass per stirpes.
24
Three main occasions when IHT may be charged?
Death Lifetime gifts made to people 7 years before death Lifetime gifts made to a company or into a trust
24
Four steps to calculation of IHT
1. Identify the transfer of value 2. Find the value transferred 3. apply any relevant exemptions and relief 4. Calculate tax
25
What is the nil rate band?
350,000
25
What is the nil rate band?
350,000
25
What is business property relief?
Operates to reduce the value transferred by a transfer of value of relevant business property by a certain percentage. 100% * a business or an interest in a business (including a partnership share) * company shares that are not listed on a recognised stock exchange 50%

SQE2 (11 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions