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A Practitioner's Guide to Probate and the Administration of Estates 3rd ed

Emma Gaudern, Keith Biggs

ISBN13: 9780854901067

New Edition ISBN: 9780854902361

Previous Edition ISBN: 9781898899938

Published: June 2012

Publisher: Wildy, Simmonds and Hill Publishing

Country of Publication: UK

Format: Hardback & CD-ROM

Price: Out of print

The third edition of A Practitioner’s Guide to Probate and the Administration of Estates (previously published as Probate and the Administration of Estates: The Law and Practice) is a practical and comprehensive guide to all forms of non-contentious probate and applications and the administration of estates.

It provides careful explanations of every step in the procedure for winding up the estate of a deceased person, from taking initial instructions to the final distribution of the estate and closing the file. Written by practitioners for practitioners, it is packed with hints and tips, covering procedural complexities, tricky tax points, avoiding delay and more.

The book opens with advice on meeting the client and taking proper instructions, moving on to tracking down the assets and liabilities which comprise the estate; completing inheritance tax forms and obtaining any available reliefs and allowances; questions concerning wills and intestacies, applying to the probate registries discretionary orders, obtaining grants of representation, collecting in the paying debts and liabilities, identifying the beneficiaries and paying the legacies, finalising the tax situation; and distributing the residue of the estate.

An accompanying CD-ROM contains a comprehensive set of precedent forms, enabling practitioners to adapt precedents for their own use.

This new edition has been completely revised and updated and contains a comprehensive guide to the completion of the current forms relating to Inheritance Tax and applications to the probate registries for discretionary orders and grants of representation.

"Throughout this excellent book the authors have continued their mission to adopt a practical approach to the subject...The structure of the book is a great asset throughout...What is particularly helpful for practitioners is the comprehensive guide to the completion of the current forms relating to Inheritance Tax and applications for discretionary orders and grants of representation. Legal advisers will find the CD excellent help for precedents as blueprint drafts which can be adapted for your specific case...thoughtful, and most useful"

Philip Taylor, Richmond Green Chambers

Subjects:: Wills and Probate, Wildy, Simmonds and Hill

Contents:: Table of Cases; Table of Statutes; Table of Statutory Instruments; Table of Conventions; 1. Making a Start; 1.1 First meeting; 1.2 Urgent steps; 1.3 Tracing the last will; 1.4 Non-urgent matters; 1.5 Avoiding delay; 1.6 Checking the assets; 1.7 Some pitfalls; 1.8 Communicating with beneficiaries; 1.9 Assets for which a grant is not required; 1.10 Foreign assets; 2. Assets and Liabilities: Initial Enquiries; 2.1 Introduction; 2.2 Tracing all the assets; 2.3 Basis of valuation; 2.4 Banks; 2.5 Building societies; 2.6 Life assurance companies; 2.7 National Savings; 2.8 Pensions and annuities; 2.9 State pension and benefits; 2.10 Chattels; 2.11 Real property; 2.12 Shares, securities and unit trusts; 2.13 Partnership interests; 2.14 Assets at Lloyds; 2.15 Joint assets; 2.16 Assets subject to an option to purchase; 2.17 Employers; 2.18 Life interest trust; 2.19 Unclaimed assets register; 2.20 Creditors; 2.21 Lifetime transfers; 2.22 Income tax and capital gains tax; 2.23 Miscellaneous matters; 2.24 Checklist; 3. Inheritance Tax Accounts; 3.1 Calculation of the estate; 3.2 Excepted estates; 3.3 Inheritance tax forms; 3.4 Schedules; 3.5 Submitting the completed forms; 3.6 Changes to the estate value; 4. Inheritance Tax Reliefs and Allowances; 4.1 Basis for the charge; 4.2 Excluded property; 4.3 Business property relief; 4.4 Agricultural property relief; 4.5 Woodland relief; 4.6 Heritage property; 4.7 Taper relief; 4.8 Quick succession relief; 4.9 Double tax relief; 4.10 Spouse or civil partner exemption; 4.11 Annual exemption; 4.12 Small gifts; 4.13 Normal expenditure out of income; 4.14 Gifts in consideration of marriage; 4.15 Gifts to charities; 4.16 Other exemptions; 4.17 HM Revenue and Customs penalties;; 4.18 Providing for inheritance tax; 4.19 Funding the payment; 4.20 Quantum of inheritance tax; 4.21 Liability for inheritance tax; 5. Questions Concerning Wills and Codicils; 5.1 Tracing the last will; 5.2 Pre-lodgment enquiries; 5.3 Evidence to support a will; 5.4 Testator blind or illiterate: knowledge and approval of contents of will; 5.5 Establishing the date of execution; 5.6 Date of will misrecited in codicil; 5.7 Condition of the will; 5.8 Damaged will; 5.9 Alterations to the will; 5.10 Conditional wills; 5.11 Incorporation of other testamentary documents; 5.12 Mutual wills; 5.13 Privileged wills; 5.14 Omission of offensive words from a will; 5.15 Rectification; 5.16 Interpretation; 5.17 Lost wills; 5.18 Deceased domiciled outside England and Wales; 5.19 Forfeiture of benefit by witnesses; 5.20 Forfeiture of right to benefit; 5.21 Execution of the wrong will; 6. Intestacy; 6.1 Distribution on intestacy; 6.2 Entitlement to take letters of administration; 6.3 Surviving spouse or civil partner; 6.4 Polygamous marriages; 6.5 Grant to children or other issue; 6.6 Grant to parents; 6.7 Grant to brothers or sisters and their issue; 6.8 Grant to grandparents; 6.9 Grant to uncles and aunts and their issue; 6.10 Grant to the Crown; 6.11 Grant to a creditor; 6.12 Grant to an assignee; 6.13 Disclaimer or forfeiture on intestacy; 6.14 Property to which the Intestacy Rules apply; 7. Caveats; 7.1 Purpose; 7.2 Definition; 7.3 Entering a caveat; 7.4 Duration and renewal; 7.5 Grants which may issue while a caveat is in place; 7.6 Issuing a warning to a caveat; 7.7 Entering an appearance; 7.8 Summons for directions; 7.9 Restriction on entering further caveat; 7.10 Withdrawal of caveat; 7.11 Death of caveator; 8. Citations; 8.1 Nature of a citation; 8.2 Citation to accept or refuse a grant; 8.3 Citation to take probate; 8.4 Citation to propound a will; 8.5 Procedure; 8.6 Alternatives to citations; 9. Renunciations; 9.1 Introduction; 9.2 Who may renounce; 9.3 Lodging the will on renunciation; 9.4 Deceased testate; 9.5 Deceased intestate; 9.6 Renunciation by attorney; 9.7 Renunciation by a minor; 9.8 Mental incapacity; 9.9 Renunciation by partners in a firm; 9.10 Retraction of renunciation; 10. Discretionary Orders; 10.1 Introduction; 10.2 Dispensing with notice to a non-proving executor; 10.3 Personal representatives; 10.4 Subpoena to bring in a will; 10.5 Leave to swear death; 10.6 Severance of estate; 10.7 Refusal of probate; 10.8 Foreign domicile; 10.9 Minor(s) entitled to a grant; 10.10 Mental incapacity; 10.11 Grant ad colligenda bona defuncti; 10.12 Special Circumstances; 10.13 Admission of a copy will or nuncupative will; 10.14 Rectification; 11. Trust Corporations; 11.1 Introduction; 11.2 Resolution authorising person(s) to act; 11.3 Trust corporation appointed executor; 11.4 Trust corporation appointed attorney; 11.5 Consent to a trust corporation acting; 11.6 Trust corporation a beneficiary; 11.7 Non-trust corporations; 12. Applications for Grants; 12.1 Application for a grant of probate; 12.2 Application for letters of administration (with will annexed); 12.3 Application for letters of administration; 12.4 Application by an attorney; 12.5 Limited grants; 12.6 Second and subsequent grants; 12.7 Issue of the grant; 13. Scottish, Northern Irish and Colonial Grants; 13.1 Scottish confirmations and Northern Irish grants; 13.2 Colonial grants; 14. Applications on Summons; 14.1 Introduction; 14.2 Disputes between persons of equal entitlement; 14.3 Application to remove a caveat; 14.4 Application for an order for a person to attend for examination; 14.5 Summons for delivery of an inventory and account; 14.6 Summons after citation proceedings; 14.7 Procedure; 15. Collecting in the Assets; 15.1 Time for collecting in assets; 15.2 Consultation with the beneficiaries; 15.3 Authority of the personal representatives; 15.4 Bank accounts; 15.5 Building society accounts; 15.6 Premium Bonds; 15.7 National Savings Certificates; 15.8 TESSAs, ISAs and PEPs; 15.9 Life assurance policies and pension scheme death benefits; 15.10 Interests in trusts and other estates; 15.11 Land; 15.12 Leasehold property; 15.13 Business interests of a sole trader; 15.14 Partnership assets; 15.15 Assets at Lloyds; 15.16 Stocks and shares; 16. Powers and Duties of the Personal Representatives; 16.1 Introduction; 16.2 Powers to deal with property; 16.3 Power to insure; 16.4 Power to postpone distribution; 16.5 Power to appropriate; 16.6 Power to distribute to a minor; 16.7 Power to maintain; 16.8 Power to advance capital; 16.9 Power to charge; 16.10 Power to recoup expenses; 16.11 Power to delegate; 16.12 Power to appoint an attorney; 16.13 Powers conferred by a will; 16.14 Duties of personal representatives; 17. Paying the Debts of the Estate; 17.1 Introduction; 17.2 Identifying the debts; 17.3 Order of priority for payment; 17.4 Order of priority of property; 17.5 Insolvent estate; 18. Paying the Legacies; 18.1 Introduction; 18.2 Identifying the beneficiaries entitled; 18.3 Establishing what each beneficiary is entitled to receive; 18.4 Time for payment of legacies; 18.5 Failure of legacies; 18.6 Assets from which the legacies are paid; 18.7 Inheritance tax on gifts; 18.8 Receipts; 19. Distribution of the Residue; 19.1 Introduction; 19.2 Creation of a will trust or trust on intestacy; 19.3 What to distribute; 19.4 Value for appropriation; 19.5 Treating the beneficiaries equally; 19.6 Time for distribution; 19.7 To whom the residue is distributed; 19.8 Making the distribution; 19.9 Transferring legal title; 19.10 Taxation of residue; 19.11 Practical points; 20. Finalising Liability to Inheritance Tax; 20.1 Introduction; 20.2 Discovery of further assets; 20.3 Updating the values of assets; 20.4 Filing a corrective account; 20.5 Loss on sale of shares; 20.6 Loss relief on the sale of a property; 20.7 Overpayment or underpayment; 20.8 Double tax treaties; 20.9 Clearance certificate; 21. Taxation During the Administration; 21.1 Introduction; 21.2 Income and capital gains tax to the date of death; 21.3 Income tax during the administration; 21.4 Capital gains tax; 22. Completing the Administration; 22.1 Estate accounts; 22.2 Final distribution; 22.3 Sample estate accounts; 23. Claims By and Against the Estate; 23.1 Introduction; 23.2 Claims in relation to the validity of the will; 23.3 Inheritance Act claims; 23.4 Limitation periods; 24. Liabilities of the Personal Representatives; 24.1 Personal liability; 24.2 Express clause in the will; 24.3 Acquiescence or agreement of creditor or beneficiary; 24.4 Agents, nominees and custodians; 24.5 Limitation of liability; 24.6 Advertising; 24.7 Relief from personal liability; 24.8 Lloyds estates; 24.9 General administration order; 24.10 HM Revenue and Customs; 24.11 Dealing with the interests of beneficiaries; 25. Variations, Disclaimers and Other Opportunities; 25.1 Introduction; 25.2 Deed of variation; 25.3 Order pursuant to an Inheritance Act claim; 25.4 Disclaimer; 25.5 Two-year discretionary trusts; 25.6 Precatory trusts; 25.7 Other opportunities; 26. Notation, Amendment and Revocation of Grants; 26.1 Notation; 26.2 Amendment; 26.3 Revocation; 27. Searches and Copies; 27.1 Records of grants of representation; 27.2 Standing search for a grant; 27.3 Search for a caveat; 27.4 Copies of wills and grants; 27.5 Deposit of wills for safe keeping; Appendices; Checklist of Information and Documents; Useful Addresses; Specimen Forms