LPC Wills and Administration of Estates Questions and Answers
4 views 0 purchase
Module
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...
what property passes independently of the will and
what is necessary for a valid will the testator m
Written for
Lpc
Lpc
Seller
Follow
Pogba119
Reviews received
Content preview
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
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Pogba119. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £10.55. You're not tied to anything after your purchase.
