Applying for the Grant

• What are the two types of personal representatives mentioned?

  Executors and administrators
• What is the role of an executor?

  An executor is appointed through a will to administer the estate
• What must be done to renounce the right to grant of probate?

  Renunciations must be filed in writing with the probate registry
• What is required for a renunciation to be valid?

  It must be signed by a witness who has nothing to do with the estate
• What happens if a person renounces and is also a trustee of the estate?

  Renouncing does not affect their trusteeship
• What does "powers reserved" mean?

  It means a person is not involved for now but can apply for a grant later
• What is a grant of representation?

  It is a legal document that confers the right to administer the estate
• What is the difference between non-contentious and contentious probate?

  Non-contentious probate is handled by the family division, while contentious probate is handled by the chancery division
• What is required for a grant of probate?

  A valid will appointing an executor must be present
• What are letters of administration with will annexed used for?

  They are used when there is an issue with the will, such as no executor or partial intestacy
• What is the order of preference for applying for letters of administration with a will?

  1. Trustee of residuary estate
  2. Any other residuary beneficiary
  3. Personal representatives of any residuary beneficiary
  4. Any other beneficiary or creditor
  5. Personal representatives of the above
• What must be confirmed in the application if someone has a higher entitlement?

  They must confirm that they have renounced their right
• How many administrators must be appointed if there is a minor child as a beneficiary or life interest?

  Two administrators must be appointed
• What is the order of preference of family members that is preferred to letters of administration when there is no will?

  1. Surviving spouse
  2. Children
  3. Parents
  4. Brothers
  5. Sisters
  6. Grandparents
• What happens if a deceased person's personal representative is also deceased?

  The personal representative of the deceased will take over their space
• What is a grant de bonis non?

  It is needed when the last personal representative dies before completing the administration of the estate
• What is chain representation?

  It occurs when a personal representative dies but leaves a personal representative of their own estate
• What happens if a grant is made to a minor?

  The minor's parents will hold the grant until the minor is 18 years old
• What must a personal representative pay to obtain the grant?

  The personal representative must pay inheritance tax (IHT)
• What can a personal representative request regarding cash in the bank account?

  They can request it to be paid directly to HMRC
• What must personal representatives file within 12 months?

  They must file an inheritance account
• When does interest start acquiring on unpaid inheritance tax?

  Interest starts acquiring after 6 months
• What must be paid before obtaining the grant?

  Tax must be paid before the grant can be obtained
• How is co-ownership of land valued for IHT purposes?

  The value is discounted to reflect the difficulty in selling the share
• What is a low value estate?

  A low value estate has a gross value of less than the nil rate band (£325k) before deductions
• What is an exempt expected estate?

  An estate worth £650,000 or less with certain conditions regarding thresholds and beneficiaries
• What are the conditions under which IHT is payable regardless?

  IHT is payable if certain lifetime transfers or gifts exceed specified amounts
• When must personal representatives pay IHT?

  Within 6 months from the end of the month they die
• How can IHT be paid if it causes financial hardship?

  IHT can be paid in 10 monthly instalments
• What is the IHT liability for non-UK domiciled individuals?

  They are not IHT liable if their UK estate consists solely of cash or quoted shares of no more than £150k
• What are the requirements for applying to the court for a grant of probate?

  • Form PA1P
  • Official copy of death certificate
  • IHT form/unique code
  • Probate court fee
• What are the requirements for applying to the court for letters of administration?

  • Form PA1A
  • Official copy of death certificate
  • IHT form/unique code
  • Probate court fee
• What must be included if there is no attestation clause in the will?

  An affidavit of due execution must be included from a witness
• What is a citation to take probate?

  It is used when an executor has lost their right to renounce and must proceed with an application
• What is a citation to accept or refuse a grant?

  It is given to a person with a prior right to grant of probate who has not applied
• What is a caveat?

  A caveat is lodged to prevent the issue of a grant of representation
• What are the administrative powers of personal representatives?

  • Power to sell, mortgage, or lease property
  • Power to appropriate estate assets
  • Appoint trustees for minor beneficiaries
  • Power to insure estate property
  • Can delegate duties to agents
  • Can indemnify themselves for expenses
  • Power to invest
  • Transfer of land or shares requires agreement of all PRs
  • Can pay income for maintenance or education of beneficiaries
• What is required for the transfer of land or shares in a company?

  All personal representatives must agree
• What happens to income accumulated until a beneficiary turns 18?

  It is added to the capital once they turn 18
• What happens if a beneficiary does not have a vested interest at 18?

  They can receive ongoing income but not the trust capital until their interest is vested