Commentary

I4.530 Income and gains of estates during administration—introduction

IHT, trusts and estates

I4.530 Income and gains of estates during administration—introduction

Division I4.5     Death and other taxes

Income and gains of estates during administration—generally

I4.530 Income and gains of estates during administration—introduction

In the event of death the property of a deceased person does not pass direct to the legatees or to the persons entitled thereto under the law of intestacy. It vests, along with the liabilities and obligations of the deceased which do not cease on death, in personal representatives whose duty it is to administer the estate by collecting the property, discharging the deceased's debts, and distributing the residue among the persons beneficially entitled to it under the Will or intestacy.

The personal representatives may be

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