{ "@context": "https://schema.org", "@type": "Organization", "name": "Brainscape", "url": "https://www.brainscape.com/", "logo": "https://www.brainscape.com/pks/images/cms/public-views/shared/Brainscape-logo-c4e172b280b4616f7fda.svg", "sameAs": [ "https://www.facebook.com/Brainscape", "https://x.com/brainscape", "https://www.linkedin.com/company/brainscape", "https://www.instagram.com/brainscape/", "https://www.tiktok.com/@brainscapeu", "https://www.pinterest.com/brainscape/", "https://www.youtube.com/@BrainscapeNY" ], "contactPoint": { "@type": "ContactPoint", "telephone": "(929) 334-4005", "contactType": "customer service", "availableLanguage": ["English"] }, "founder": { "@type": "Person", "name": "Andrew Cohen" }, "description": "Brainscape’s spaced repetition system is proven to DOUBLE learning results! Find, make, and study flashcards online or in our mobile app. Serious learners only.", "address": { "@type": "PostalAddress", "streetAddress": "159 W 25th St, Ste 517", "addressLocality": "New York", "addressRegion": "NY", "postalCode": "10001", "addressCountry": "USA" } }

Protection of PRs Flashcards

(9 cards)

1
Q

how can PRs protect themselves against claims for unknown Bs/creditors?

A

publish a s.27 notice

NB: this only protects PRs against claims from unknown Bs/creditors. If the PRs know they exist but cannot find them, they will not be protected by a s.27 notice

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

where should a s.27 notice be placed?

A

The notice should be placed in:
o The London Gazette
o If the estate includes land - a local newspaper
o Any other appropriate publication (can seek directions from the court)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

what information must be inc. in a s.27 notice?

A

The notice must require any person interested to send particulars of their claim within a specified time (no earlier than 2 months from the date of the notice)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

when can executors and administrators respectively publish the notice?

A

Executors can publish the notice from death + administrators from issue of GOR

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

what searches should PRs undertake to identify Bs/creditors?

A

PRs should also undertake appropriate searches, i.e.:
o Local land charges search
o HMLR search
o Bankruptcy search

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

how can PRs protect themselves from claims from missing Bs/creditors?

A

the only way PRs can administer the estate without repercussions if a missing B/creditor comes forward is by obtaining an Benjamin Order.

Alternative (less protective) measures inc.:
* Retain assets in case they return
* Administer the estate and obtain an indemnity from the other Bs that they will meet any future claims
* Insurance (expensive)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

how can PRs protect themselves from a family provision claim?

A

PRs should refrain from distributing the estate for 6 months after the GOR is issued

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

what is a Benjamin Order? how is one obtained?

A

PRs must apply to the high court. The application must be supported by evidence that PRs have underaked full enquiries to locate the B/creditor

it is a declaration that B/creditor is presumed dead

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

what happens if PRs distribute the estate within 6 months of the issue of GOR and the claim is successful?

A

the PRs will be personally liable to pay if there are insufficient assets in the estate.

So long as PRs have waited 6 months from the issue of GOR to distribute the state, either the estate will pay or C recovers property from Bs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly