The following Wills & Probate guidance note provides comprehensive and up to date legal information covering:
The personal representatives (PRs) must identify:
the beneficiary entitled
what each beneficiary is entitled to receive
the time at which each legacy should be paid
PRs have at least a year from the date of death before beneficiaries can call on them to distribute any part of the estate.
Before deciding to commence distribution, PRs must consider:
outstanding tax liabilities
family provision claims
variation or disclaimer
PRs must distribute to the persons entitled under the deceased's Will/intestacy rules. Before distributing, they must satisfy themselves as to the correct identity of the beneficiaries.
When a beneficiary under the Will is identified by reference to a general class description, the PRs must ascertain all those within the class description.
PRs must ensure that they make the statutory advertisements under section 27 of the Trustee Act 1925 (TA 1925).
These are rules of construction aimed at closing entry to the class as soon as someone satisfies the class requirements so that persons satisfying the class description but born afterwards cannot join it.
This depends on the type of legacy.
PRs must be alert to the possibility that a legacy has lapsed or failed.
This is a gift of property
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