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Sim S
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Decks in this class (47)
Introduction to Estates
Which act governs the ability of ...,
If a deceased s will does not dis...,
Which of the following assets wil...
15
cards
Intestacy
Which act governs the distributio...,
If a deceased dies intestate leav...,
What does issue mean in the conte...
15
cards
Will Validity: Capacity
What is the minimum age required ...,
Which of the following is not a r...,
Which of the following statements...
10
cards
Will Validity: Knowledge & Approval
What must a testator understand t...,
In which of the following situati...,
What is the significance of an af...
10
cards
Will Validity: Formal Requirements
Which of the following is a requi...,
What happens if a beneficiary of ...,
A testator james is physically un...
10
cards
Wills Drafting: Non-Dispositive Clauses
What is the main purpose of the r...,
What is the maximum number of exe...,
Under s15 wills act 1837 what hap...
12
cards
Wills Drafting: Dispositive Clauses
What is the effect of a properly ...,
How does a demonstrative legacy d...,
What is the main risk of failing ...
13
cards
Wills Drafting: Construction
When does a will speak in relatio...,
How does the wording of a will af...,
What is the default tax treatment...
13
cards
Wills Drafting: Gifts to Particular Beneficiaries
What is a class gift in a will 1,
Under the wills act 1837 what hap...,
What happens if a testator gifts ...
12
cards
Introduction to IPFDA 1975
Who is eligible to apply under th...,
What is the domicile requirement ...,
What is the time limit for making...
15
cards
IPFDA 1975 Claims
Who is eligible to apply for fina...,
What is the deadline for making a...,
What standard applies to a claim ...
10
cards
Post-Death Arrangements
What is the primary reason a bene...,
Which of the following is not a v...,
Which tax benefit is associated w...
15
cards
Inheritance Tax (‘IHT’)
What is the current nil rate band...,
How is iht applied to a failed pet 2,
What is the standard rate of iht ...
10
cards
IHT Nil Rate Bands
What is the current basic nil rat...,
What happens to the nrb if an ind...,
How does the residence nil rate b...
11
cards
IHT (Death Estate)
What is the nil rate band nrb for...,
How long must a person survive af...,
What is the inheritance tax rate ...
10
cards
Intro to IHT Exemptions and Reliefs
Which of the following gifts is f...,
How much can a parent gift to the...,
What is the annual exemption for ...
12
cards
IHT Exemptions (lifetime & death)
What is the maximum amount that c...,
Which exemption applies to gifts ...,
Which of the following gifts woul...
12
cards
IHT Reliefs (lifetime & deaths)
What is the effect of business pr...,
What is the minimum ownership per...,
Which of the following business a...
10
cards
IHT Exemptions & Reliefs (Death Only)
What is the main benefit of quick...,
Under woodlands relief what happe...,
Which of the following is a key r...
10
cards
Reporting to HMRC & Payment of IHT
What is the deadline for submitti...,
Which of the following estates qu...,
Which of the following assets qua...
10
cards
Introduction to Administration
What is the main purpose of a gra...,
Which of the following is true ab...,
Who can apply for a grant of lett...
12
cards
Administration: Introduction to the role of a PR
What is the main legal duty of a ...,
When can an executor act in the a...,
What happens to legal title of th...
12
cards
Administration: Requirement for a Grant & Types
What is the primary function of a...,
Which grant is used when a deceas...,
When is a grant of letters of adm...
12
cards
Administration: Assets without a Grant
Which asset will always require a...,
Which of the following assets usu...,
Under the administration of estat...
12
cards
Administration: Preliminary Steps
What is the first formal legal st...,
What document is essential for no...,
Who is legally responsible for pr...
12
cards
Administration: Entitlement to the Grant (Executors)
What is the maximum number of exe...,
Who derives authority to act as a...,
A testator appoints one executor ...
12
cards
Administration: Entitlement to the Grant (Administrators)
Under ncpr 22 who has the highest...,
Under ncpr 20 who has priority to...,
In an intestacy if both parents a...
12
cards
Administration: PR Unwilling / Unable to Act
Which of the following actions wo...,
What is the effect of an executor...,
Which of the following cannot be ...
12
cards
Administration: Applying for the Grant
Which grant is appropriate where ...,
What document must always be prov...,
What form is used when applying f...
12
cards
Administration: Completing the Application
Which document confirms the iht h...,
What form should be used if the d...,
A deceased left a valid will but ...
12
cards
Administration: Affidavits
Which of the following would most...,
The testator s signature on a wil...,
The will is stapled but has visib...
10
cards
Administration: PR Duties
Which of the following is a core ...,
Ahmed a pr sells estate land even...,
Which of the following duties is ...
12
cards
Administration: PR Powers
Which of the following powers all...,
Under s29 trustee act 2000 when c...,
Sarah is a pr who has identified ...
12
cards
Administration: PR Liability & Protection
What is the legal term for a clai...,
What notice can prs publish to pr...,
A pr pays themselves for time spe...
12
cards
Administration: Collecting Assets & Payment of Debts
Which type of debt takes priority...,
A pr sells the deceased s car val...,
Which clause would override the d...
12
cards
Administration: Income Tax and Capital Gains Tax
Who is responsible for settling t...,
Which of the following is true re...,
What form do prs issue to benefic...
12
cards
Administration: Distribution & Estate Accounts
When can prs make an interim dist...,
What is the correct order of paym...,
Which category of legacy abates f...
10
cards
IHT (Lifetime Transfers)
What is the iht rate on a lifetim...,
For a potentially exempt transfer...,
A man makes a pet of 100 000 he s...
8
cards
IHT Liability and Burden
Who is primarily liable to pay ih...,
Who is primarily liable to pay ih...,
A donor gave 400 000 into a trust...
8
cards
IHT Lifetime Exemptions and Reliefs
What is the maximum annual exempt...,
The small gifts exemption allows ...,
A father gifts 5 000 to his daugh...
8
cards
Lifetime Tax Planning
Which of the following is a lawfu...,
How much is the annual exemption ...,
Sarah gifts 250 each to 10 differ...
8
cards
Wills Professional Conduct
Who must the solicitor take will ...,
What must a solicitor do if they ...,
If a solicitor is a beneficiary o...
12
cards
IHT: Anti-Avoidance
Which of the following best descr...,
Under the pre owned assets charge...,
When does taper relief apply to r...
12
cards
Tax Planning in Wills: Exempt Beneficiaries & Qualifying Assets
Which of the following beneficiar...,
What is the inheritance tax rate ...,
Business property relief bpr appl...
12
cards
Tax Planning in Wills: Allocation of Exemptions
Which of the following beneficiar...,
When a gift is made subject to ta...,
What happens if a testator leaves...
15
cards
Tax Planning in Wills: NRB Gifts
What does using the nrb on death ...,
Why might a married couple choose...,
Which formula clause is preferred...
12
cards
Tax Planning in Wills: Trusts
When does a discretionary trust c...,
In a life interest trust who rece...,
What is a key practical benefit o...
10
cards
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Wills and Admin of Estates
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