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Decks in this class (49)
Professional conduct issues in wills
When taking instructions for a wi...,
What is the rule about third part...,
What is the rule about providing ...
10
cards
Intro to estates
What is a testacy intestacy and p...,
What type of property do not form...,
What is a donationes mortis causa 3
11
cards
Intestacy
What is the entitlement of estate...,
Entitlement of spouse and issue 2,
What happens if intestate leaves ...
10
cards
Will Validity - Capacity
What is needed to make a valid wi...,
What is the common law test for t...,
What does nature of act extent of...
8
cards
Will Validity - Knowledge & Approval
What is needed for a valid will 1,
What does knowledge and approval ...,
What is the presumption of knowle...
6
cards
Will Validity - Formal requirement
What is needed for a valid will 1,
What must be complied with when m...,
What does s 9 a mean 3
8
cards
Will Drafting: non-dispositive clauses
In a standard will what is the in...,
What is a revocation clause in a ...,
Burial funeral wishes 3
14
cards
Will Drafting - dispositive clauses 1
What are a dispositive clauses 1,
Specific gifts 2,
Specific gifs collection 3
15
cards
Will Drafting - Construction
Date from which the will speaks p...,
Collections 2,
People 3
11
cards
Will Drafting - dispositive clauses 2
Gift to issue 1,
Example of class closing 2,
Vested interests 3
11
cards
Inheritance (Provision for Family and Dependants) Act 1975
What is ipfda 1975 1,
What is the eligibility to make a...,
Jurisdiction s1 1 3
10
cards
Assessing claims under IPFDA
What is the two stage test for an...,
What is a reasonable financial pr...,
What are the two standards of rfp 3
13
cards
Post-death arrangement
When may the distribution of an e...,
What happens if a beneficiary doe...,
What changes can be made to the o...
18
cards
Intro to inheritance tax
When is the rate of iht 1,
What are the 3 kinds of event tha...,
What is a transfer of value 3
13
cards
Nil rate bands
What is a transfer of basic nil r...,
How does tnrb works 2,
Outliving multiple spouses 3
16
cards
IHT: Lifetime
What is a potentially exempt tran...,
What is the tax treatment of a pet 2,
What is a lifetime chargeable tra...
14
cards
IHT: Death estate
What are the 7 step process in ca...,
Step 1 calculating cumalative tot...,
Step 2 identify taxable death est...
14
cards
IHT: liability and burden
Liability of lct 1,
Ltc and failed pets following dea...,
What are taxable death estate 3
6
cards
IHT: Intro to exemptions and reliefs
How do exemptions and relief work 1,
Common exemptions and reliefs 2,
When do exemption relief apply 3
6
cards
Lifetime only exemptions
What are some of the exemptions a...,
Annual exemption 2,
Family maintenance 3
7
cards
IHT exemption & relief: lifetime and death
What is the spouse exemption 1,
What is a charity exemption 2,
What is business property relief 3
13
cards
IHT relief on death estate only
What are the relief available on ...,
What is a woodlands relief 2,
What are the alternatives to wood...
4
cards
Reporting to HMRC & payment of IHT
What is the administration proces...,
What should the prs deliver to hm...,
How is iht calculated 3
19
cards
Administration - role of a PR
What is the role of a pr 1,
How can a person act as a pr 2,
Are prs also trustees of estate 3
7
cards
Requirement for a grant & assets without grant
What is the grant of representati...,
What does a grant of probate show...,
What are the requirements for a g...
10
cards
Administration - preliminary steps
What are the pre grant steps 1,
Death certificate funeral 2,
Secure the estate assets 3
11
cards
Entitlement to the Grant (Executors)
General info about executor 1,
When is an executor unable to act...,
How many executors can there be 3
6
cards
Entitlement to the Grant (Administrators)
Grant of letters of administratio...,
Who are entitled to apply under r...,
How does application work in rule...
9
cards
PR unwilling/unable to act
What happens if an executor is un...,
What happens if an executor is un...,
What is renunciation 3
10
cards
Applying for a grant
What should applicants provide wh...,
What is a professional application 2,
Application process paper form 3
9
cards
Completing the grant application
To complete an application for gr...,
Probate registry fees death certi...,
Testamentray documents renunciati...
5
cards
Affidavits
What is an affidavit 1,
When are affidavits required 2,
Affidavit and compliance with s9 ...
8
cards
PR duties
What is the role of a pr 1,
What is the duty of a pr before i...,
Duty to inform hmrc and pay iht 3
11
cards
PR powers
Where do prs derive their powers ...,
What are the statutory powers of ...,
What is the statutory power to se...
13
cards
PR liabilities
Who does the pr owe duties to and...,
What can a claim against a pr be ...,
How can a pr who fails their duti...
15
cards
Post-grant: collecting assets and payment of debts
What methods are used when collec...,
When money is collected in where ...,
What should be done once prs have...
13
cards
Post-grant: income tax and CGT
What are the prs responsibilities...,
What are the deceased s income ta...,
Deceased s income 3
10
cards
Post-grant: distributions & estate accounts
What is the final step of adminis...,
What must prs consider when trans...,
What are the timing consideration...
12
cards
Lifetime tax planning
What is tax planning tax avoidanc...,
What is the objective of iht plan...,
When advising on tax what advise ...
12
cards
IHT worked example
An unmarried woman dies and leave...,
An unmarried woman dies and leave...,
An unmarried woman dies and leave...
6
cards
Revocation of Will
How may a will be revoked 1,
What is needed for the revocation...,
Intention to revoke a will may be 3
11
cards
Exempt beneficiaries & qualifying assets
When drafting a will for iht plan...,
Who are exempt beneficiaries for ...,
What happens to gifts to spouse c...
11
cards
NRB gifts - tax planning
What should be considered for iht...,
When is the nrb not used used in ...
2
cards
IHT: Anti-avoidance
What is tax avoidance 1,
What is the purpose and effect of...,
When do grob rules apply 3
14
cards
Tax planning - Trusts
What happens when a testator make...,
What are the different types of t...,
Discretionary trusts wills 3
9
cards
Will Drafting: incorporating documents into will
When can an unexcuted document be...,
What happens when unexecuted docu...,
Incorporating step provisions 3
4
cards
Will Amendment: alterations
What are the ways in which a test...,
What are the issues with amending...,
What are the types of amendments 3
9
cards
Will Amendment: codicils
What are the ways in which a test...,
What is a codicil 2,
When are codicils appropriate 3
8
cards
Will Amendment: marriage and divorce
How may a will or clauses within ...,
Revocation by marriage 2,
Wills in contemplation of marriage 3
5
cards
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Wills and Estates
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