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

Where there is no will (or no executor able and willing to act), the Probate Registry issues Letters of Administration to the person entitled to administer the estate.

Question 2

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

Accepted Answer

£325,000

Answer

The basic IHT nil-rate band has been frozen at £325,000 since 2009, meaning estates above this threshold are taxed at 40% on the excess.

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 residuary estate is the balance left after settling debts, funeral costs, administration expenses, IHT, and all specific or pecuniary legacies.

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

The rule allows all adult, mentally competent beneficiaries who together hold the entire beneficial interest to collectively bring a trust to an end and demand the assets.

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

Property held as beneficial joint tenants passes by survivorship to the surviving joint tenant(s) automatically and outside the estate.

SQE - Solicitors Qualifying Examination Practice Test

SQE - Solicitors Qualifying Examination Practice Test

SQE Wills, Intestacy and Probate 2