administration: Obtaining the Grant of Representation

Question 1

What details must be provided on a PA1A/P in regards to estate values for IHT purposes

Answer 1

i) gross value of the estate for IHT plus any specified transfers and specified exempt transfers made by the deceased 7 years before death

ii) net value of the estate for IHT purposes less allowable debts

iii) net qualifying value of the estate- the net value of the estate for IHT less any spouse, civil partner or charity exemptions

gross and net figures passing under the grant

Question 2

what is the gross estate passing under the grant ?

Answer 2

value before deducting debts

Question 3

what is the net estate passing under the grant ?

Answer 3

value after deduction of debts and the funeral account

Question 4

How many executors have to obtain a GOP if there are infant beneficiaries/ the estate includes land ?

Answer 4

One executor may obtain a grant of probate and act alone

Question 5

who will take the grant if the only executor appointed lacks capacity at the testators death?

Answer 5

their attorney appointed under or enduring a lasting power of attorney

Question 6

What should be done where one executor is a minor

Answer 6

probate granted to adults with power reserved to the minor to take the grant at a later date

Question 7

What happens if the administration of the estate has not been completed by the time the minor attains 18 years

Answer 7

A grant of letters of administration with will annexed for the use and benefit of the minor will be made, until the minor attains 18 years

Question 8

what form must be used to renunciate position of PR?

Answer 8

Form PA 15