Administration and I(PFD)A 1975

We will be teaching the following parts of the SQE1 Assessment Specification:

Administration of estates:

• duties of personal representatives prior to distribution:
  
  • take all reasonable steps to collect in and secure estate
  • preserve the value of the estate
  • collect money due to estate
  • issue proceedings where necessary
  • pay funeral and testamentary expenses
  • follow the terms of the will or intestacy provisions
  • account to the beneficiaries
• liabilities of personal representatives and their protection
  • unknown beneficiaries
  • missing beneficiaries
  • insolvent beneficiaries
  • creditors
• the sale of assets to raise funds to pay funeral expenses, tax, debts and legacies
• distribution of the estate.

Claims against estates under the Inheritance (Provision for Family and Dependants) Act 1975 and the factors the court will take into account when considering a claim:

• time limit
• applicants
• ground.

We will finish by practising MCQs on what we have covered.

The Session will be recorded.