Explanation:
In a trust, there's typically a requirement for a minimum number of trustees to manage the trust assets. In this case, when the trust was established, three trustees were appointed. However, one trustee has died, leaving two surviving trustees. As long as the minimum number of trustees required by the terms of the trust is still met, there's no immediate need to appoint a replacement trustee.
Explanation:
By placing the advertisements and waiting for two months from the date of the advertisements, the executor allows sufficient time for any potential creditors to come forward with their claims before distributing the estate.
Explanation:
When a person receives a suspended sentence order, they must abide by certain conditions during the operational period. If they commit another offence during this time, the court can activate the suspended sentence and impose the custodial sentence originally suspended.
Explanation:
In this scenario, the testator appointed three individuals as his executors: his spouse, his friend, and his adult son. However, since the testator and his spouse divorced after the will was executed, the spouse no longer retains the right to act as an executor. Additionally, the adult son predeceased the testator, and a grant of probate to the son's estate was obtained by his nephew. Given these circumstances, the only remaining executor from the original list is the testator's friend.
Explanation:
When a property is owned by tenants in common and one of the co-owners dies, their share is subject to Inheritance Tax (IHT). However, a percentage discount is usually applied to reflect the fact that the property was not wholly owned by the deceased. Therefore, the value of the sister's half share for IHT purposes would be £100,000, adjusted with a percentage discount.
Explanation:
In this scenario, since the light fitting is only held by three small screws and was made by the client's late father, it is likely to be considered a chattel rather than a fixture. Therefore, the client may remove the light fitting before completion.
Explanation:
Option E is the correct choice because the solicitor should first ask the client to correct the false information provided to the court. If the client refuses to do so, the solicitor should then cease to act to avoid participating in or facilitating dishonest conduct.
Explanation:
The mother has a vested interest because she has an immediate right to occupy the property for the remainder of her life. However, the nephew and niece only acquire their interests upon certain conditions being met, namely surviving the mother and attaining the age of 21 years. Therefore, their interests are contingent.
Explanation:
In the absence of a will, the estate of the deceased will be distributed according to the rules of intestacy. Since the man was not married or in a civil partnership, his estate will be inherited by his children. Therefore, both the son from a previous relationship and the daughter he adopted with his partner are entitled to share in the distribution of the estate.
Explanation:
After deducting debts and funeral expenses from the total estate value, the remaining estate is subject to Inheritance Tax. The main residence nil rate band is applied to reduce the tax. After accounting for this band and subtracting the value of the main residence and the debt, the total Inheritance Tax payable is £224,400.
Explanation:
The client can likely sue the neighbor under the covenant because the neighbor was the original party to the deed containing the covenant. Therefore, the neighbor is bound by the terms of the covenant they agreed to, which prohibits letting the roof fall into disrepair.