LPC Wills and Administration of Estates Questions and Answers
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Course
Lpc
Institution
Lpc
LPC Wills and Administration of Estates Questions and Answers
What property passes independently of the will and the intestacy rules?
- joint property held as joint tenants
- nominated property for third party (not exceeding £5,000)
- Insurance policies to be for the benefit of specified indiv...
LPC Wills and Administration of Estates
Questions and Answers
What property passes independently of the will and the intestacy rules? - answer -
joint property held as joint tenants
- nominated property for third party (not exceeding £5,000)
- Insurance policies to be for the benefit of specified individuals
- Pension benefits
What is necessary for a valid will? - answer The testator must have: the necessary
capacity, intention and observe the formalities for execution.
Test of Banks v Goodfellow (1870) - answer the testator must understand the nature
of his acts and its effects, the extent of the property and moral claims he ought to
consider
There is a presumption that the testator has the requisite mental capacity.
Formalities for execution - answer Section 9 Wills Act 1837:
- it must be in writing, signed
- testator must intend to give effect to the will
- the signature is made and witnessed by two or more witnesses (they must attest and
sign)
How can a will be revoked? - answer - By a later will or codicil
- by marriage/CP
- Physical destruction
Ademption - answer A specific legacy is adeemed (taken away) if the thing given is
disposed of during the testators lifetime.
A legacy lapses when: - answer where the beneficiary dies before the testator, the
property will fall into the residuary estate.
What is a survivorship clause - answer they provide that a beneficiary is only to
receive a gist if they survive the testator for a particular length of time (28 days)
What does the spouse/CP get under the intestacy rules? - answer they are entitled
to all personal chattels (moveable property); a legacy of £250,000 and half of the
residuary estate.
Apart from the spouse/CP, who gets part of the estate under the intestacy rules? -
answer the issue of the testator, parents, brothers or sisters, brothers or sisters of
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