SQE Wills, Intestacy and Probate 2

Question 1

What document is issued when a person dies without a will and an administrator is appointed to deal with their estate?

Accepted Answer

Letters of Administration

Answer

Grant of Probate

Answer

Deed of Variation

Answer

Assent

Question 2

What is the Inheritance Tax nil-rate band for the 2024–25 tax year?

Accepted Answer

£325,000

Answer

£500,000

Answer

£175,000

Answer

£650,000

Question 3

What is a 'residuary estate' in the context of probate?

Accepted Answer

What remains of the estate after payment of debts, expenses, and specific legacies

Answer

The deceased's real property

Answer

All assets jointly owned with the surviving spouse

Answer

Assets held in trust

Question 4

What is the rule in Saunders v Vautier?

Accepted Answer

Adult beneficiaries who are absolutely entitled can collectively end a trust and call for the assets

Answer

A trustee can distribute assets before the trust vesting date

Answer

A minor beneficiary can dissolve a trust with court approval

Answer

A testamentary trust cannot be varied once created

Question 5

Which of the following assets does NOT pass through a deceased's estate and is not subject to a grant of probate?

Accepted Answer

Jointly owned property held as beneficial joint tenants

Answer

A sole bank account

Answer

Shares held in the deceased's sole name

Answer

A pecuniary legacy under a will

Question 6

What is the purpose of an 'assent' in estate administration?

Accepted Answer

To vest a property asset in the beneficiary entitled under the will or intestacy

Answer

To appoint a new executor

Answer

To apply for a grant of probate

Answer

To transfer shares in a company