This document comprises of sets of different examples which i had used in my open book exams. The MSQ's were all Wills,Probate, Admin and Inheritance Tax related and i managed to get 85% on my exam.
They are in order and most of the questions were similar to the examples with sum alternations.
Ian died intestate a week ago. His wife had died some years earlier. They
had three children, Abe, Bill, and Charlie. Abe died last year, with two
children, Dee (6) and Eve (4). Bill also died last year with two children
Freddie (18) and Greg (15). Charlie is still alive and has two children Hattie
(20) and Ivy (18).
Which ONE of the following statements about entitlement to Ian's
estate is CORRECT?
A. Freddie and Greg each have a contingent interest.
B. Dee and Eve each have a vested interest.
C. Charlie has a contingent interest.
D. Hattie and Ivy both have no interest.
Correct!
Feedback
To take a vested interest on the statutory trusts a person must be living at
the intestate's death and reach the age of 18 (or marry or form a civil
partnership earlier). Charlie has fulfilled this contingency.
Abe and Bill have not. A person who dies before the intestate leaving issue
is replaced by the issue. The issue must reach 18 (or marry or form a civil
partnership earlier) to take a vested interest. Freddie has already reached
18; Dee, Eve and Greg have not. Hattie and Ivy have no interest because
their father is alive and has a vested interest.
Question 6.1---- Intestacy Rules
, Question --- Intestacy Rules
Failed Gift
Grace's only living relative is her brother, Quentin. She makes a will containing the
following gifts:
My Jaguar motor car, registration GGH 234X to Phoebe.
My shares in Marks & Spencer plc to Quentin.
The money in my Abbey account to Raj.
My gold chain to Sanjit.
The residue of my estate to Thalia
After making her will and before her death the following events occur:
• She sells the Jaguar and buys a replacement.
• She sells her Marks & Spencer shares and reinvests the proceeds in
Tesco shares.
• All her jewellery is stolen and she uses the insurance money to buy
replacements.
• Raj and Thalia die.
Which ONE or more of the following statements is WRONG?
A. The gifts of the car, the shares and the gold chain fail as a result of
ademption and the beneficiaries receive no compensation.
B. Quentin has no entitlement to any part of Grace's estate.
C. All of Grace's estate is undisposed of so it will pass under the
intestacy rules to her only living relative, Quentin.
Question: Intestacy/Legacy
, Baldeep (aged 28) is killed in a car accident together with his younger
brother, Sadhu (aged 13). His valid will is as follows:
I revoke all earlier wills and make the following gifts:
1. I give £20,000 to my little brother, Sadhu.
2. Everything else to my parents equally.
There is no evidence as to which of Baldeep and Sadhu died first.
Baldeep is survived by his parents.
Which ONE of the following statements is CORRECT?
A. If Sadhu’s personal representatives cannot prove that Sadhu survived
Baldeep, the legacy to Sadhu fails.
B. The legacy to Sadhu does not fail; the money will be paid to his
personal representatives.
C. The legacy to Sadhu fails; the money will pass to Baldeep's residuary
beneficiaries.
D. The legacy to Sadhu does not fail; the money will pass under the terms
of any will he leaves.
Feedback
Where there is no evidence as to who died first the younger person is
assumed to have outlived the older person so the legacy to Sadhu does not
fail, but Sadhu is too young to have made a will for himself. Therefore, the
money will be paid to Sadhu's PRs who will pass the legacy to whoever is
entitled to Sadhu's property on intestacy.
Question: Intestacy
Sam dies intestate. He never married, formed a civil partnership or had
children. Sam’s parents are both dead but he is survived by the following
brothers and sisters, all of whom are unmarried and not in civil partnerships:
Ann (25), Ben (22), Cleo (17) and Davina (8)
During the three months it takes to administer Sam's estate the following
events occur:
- Ben and Davina are killed in a car crash.
- Cleo marries Bryn and dies of a tropical infection contracted on her
Sam's estate is now ready for distribution and there is £600,000 available for
distribution under the intestacy rules.
Which ONE of the following statements is CORRECT?
A. Ben's estate will receive nothing from the intestacy.
B. Davina's estate will receive nothing from the intestacy.
C. Cleo's estate will receive nothing from the intestacy.
D. All of the property passing on intestacy will go to Ann.
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