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Berke Elmaz
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Decks in this class (52)
Introduction to Estates
What law governs wills 1,
What is a testator 2,
What happens if a person dies wit...
29
cards
Intestacy
Who holds the undisposed property...,
How is entitlement on intestacy d...,
What happens if the deceased is s...
24
cards
Capacity
At what age can a person make a v...,
Are there any exceptions to the a...,
What are the legal requirements f...
15
cards
Knowledge and Approval
What is knowledge and approval in...,
When must knowledge and approval ...,
What is the parker v felgate exce...
13
cards
Formal Requirements
What are the formal requirements ...,
Does the will have to be handwrit...,
Can a testator use any type of ma...
24
cards
Non-dispositive Clauses
How should a will be worded 1,
What is the standard structure of...,
What details must the commencemen...
32
cards
Dispositive Clauses
What is the purpose of dispositiv...,
Typical order of dispositive clau...,
What is a specific gift 3
22
cards
Construction
What happens if wording of a will...,
General rule about date from whic...,
How can contrary intention about ...
21
cards
Gifts to Particular Beneficiaries
Key considerations for gifts to i...,
Definition of issue includes 2,
When should class gifts be used i...
20
cards
Incorporating Documents into a Will
How can an unexecuted document be...,
What are the three criteria for i...,
Effect of incorporating unexecute...
10
cards
Alterations before and after execution
What options of amendment does a ...,
What is the best option and why 2,
What is the law on amending will ...
22
cards
Amendment by Codicil
What is a codicil 1,
Rules for executing a codicil 2,
What must a codicil reference 3
12
cards
Revocation
What could revoke a validly made ...,
Elements required to revoke a wil...,
How far does the destruction need...
25
cards
Marriage and Divorce
Effect of marriage after writing ...,
Does entering into a civil partne...,
How to avoid revocation by marria...
11
cards
Introduction to IPFDA 1975
What act allows claims if a testa...,
Eligibility requirements under ip...,
Where must the testator have been...
19
cards
Assessing claims under IPFDA 1975
Is the ipfda reasonable financial...,
How many limbs does the ipfda tes...,
What is the two stage test for ip...
21
cards
Post-death Arrangements
Adverse tax consequences if benef...,
How could adverse iht arise for d...,
How could adverse cgt arise for d...
31
cards
Administration - Introduction
What is a personal representative 1,
Difference between executor and a...,
What is a grant of representation 3
9
cards
Role of a Personal Representative
What is the statutory role of a pr 1,
What does administering an estate...,
Can a pr also be a beneficiary 3
16
cards
Duties of a Personal Representative
Where do pr duties arise from 1,
When is a pr personally liable fo...,
Pr duties before issue of grant 3
21
cards
Powers of a Personal Representative
Where does pr power derive from 1,
When do statutory pr powers apply 2,
Effect of express pr powers in a ...
31
cards
PR Liability and Protection
When may a pr be liable for breac...,
To whom does a pr owe duties 2,
What is a claim of devastavit 3
31
cards
Requirement of Grant and Main Types
How many types of grants are there 1,
What are the main types of grants 2,
What does a grant of probate cont...
9
cards
Assets without a Grant
Is a grant needed for assets that...,
Which assets fall outside of the ...,
Assets under the administration o...
23
cards
Preliminary steps in Administration of Estate
What are the 5 pre grant steps 1,
How can government organisations ...,
What are funeral costs payable fr...
17
cards
Entitlement to Grant (Executors)
What is an executor 1,
Where does executor s entitlement...,
When is an executor named in a wi...
13
cards
Entitlement to Grant (Administrators)
Administrators are appointed unde...,
Types of representation an admini...,
When is grant of letters of admin...
20
cards
PR Unable or Unwilling to Act
When is a pr unable to act 1,
Who can power be reserved to 2,
What if one executor is unable to...
28
cards
Reporting to HMRC and Payment of IHT
What stages can pr s administrati...,
What is the pr s duty under s216 ...,
What should be included in the ih...
38
cards
Applying for Grant of Representation
What are the types of grant 1,
When is grant of probate needed 2,
When is grant of letters of admin...
19
cards
Completing the Application
Is a probate registry fee payable 1,
Is there an original grant 2,
When is a certified copy of death...
4
cards
Affidavits
What is an affidavit 1,
What is a jurat 2,
What is the use of an affidavit 3
14
cards
Collecting Assets and Payments of Debts
What is the method of collecting ...,
Where should pr pay collected mon...,
What is the first thing a pr shou...
24
cards
Income Tax and CGT
Who is responsible for paying inc...,
When is income tax and cgt payabl...,
What are the tax possibilities af...
31
cards
Distributions and Estate Accounts
What must pr do before distributi...,
What is the order of payments in ...,
What are interim distributions 3
33
cards
Introduction to IHT
Who does iht apply to 1,
What is iht payable on 2,
What are the iht rates 3
24
cards
IHT Nil Rate Bands
What is the basic nil rate band l...,
What is the cumulation rule 2,
Effect on nrb if person made two ...
16
cards
IHT - Lifetime
What are the two main types of li...,
What are potentially exempt trans...,
What are lifetime chargeable tran...
17
cards
IHT - Death Estate
How many steps in the process on ...,
What is the standard iht rate 2,
What is the tax free nrb 3
21
cards
IHT - Liability and Burden
Who pays iht for lct at time of t...,
Who pays iht for failed pet 2,
Who pays iht for lct reassessed 3
11
cards
Introduction to Exemptions and Reliefs
What might iht arise from 1,
What are exemptions 2,
Do exemptions affect nrb 3
8
cards
Exemptions and Reliefs - Lifetime Only
What are the lifetime only exempt...,
What is the annual exemption 2,
What is the tax year 3
17
cards
Exemptions and Reliefs - Lifetime and Death
What are the main exemptions that...,
What is the spouse exemption 2,
Is there a limit in value for spo...
20
cards
Relief - Lifetime and Death
What is a business property relief 1,
What are the different relief rat...,
What qualifies for 100 brp 3
18
cards
Exemptions and Relief - Death Only
What are some death estates only ...,
What does woodlands relief do 2,
What are ownership conditions for...
12
cards
IHT Avoidance
What is tax avoidance 1,
What are the types of behaviour r...,
What are some anti avoidance rule...
19
cards
Lifetime Tax Planning
Is a gift reversible 1,
What are lifetime only exemptions 2,
What is the annual lifetime exemp...
17
cards
Exempt Beneficiaries and Qualifying Assets
When is spouse exemption lost 1,
What is a good way to reduce iht ...,
What is a gift to discretionary t...
5
cards
Allocation of Exemptions and Reliefs
When does allocation matter 1,
If there is a specific gift to ex...,
If specific gift to exempt benefi...
7
cards
NRB Gifts
What is the nrb 1,
When is nrb not used 2,
When is nrb partially used 3
6
cards
Trusts
Is a trust a legal person 1,
What is a trust 2,
What is a will trust 3
22
cards
Professional Conduct
What is the golden rule 1,
What happens if doctor confirms c...,
What happens if doctor does not c...
6
cards
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Wills and Probate
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