IHTM12000 - Succession: contents
Summary
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Summary |
boxes 24 to 26 of the IHT400
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Purpose of the questions |
Information given at boxes 24 to 26 of the IHT400
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Deceased's former residence |
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Other items in the will |
Investigating boxes 24 to 26 of the IHT400
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General approach |
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Deceased's former residence |
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Other items in the will |
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Noting future claims under the will |
Wills
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What is a will? |
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Characteristics of a will |
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Requirements for making a valid will |
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Formalities required to make a valid will |
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Capacity required to make a valid will |
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Privileged wills |
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Scottish Wills |
Construction of wills
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General approach |
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Principles of construction |
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Meaning of words and phrases |
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Inconsistent clauses |
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Extrinsic evidence |
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Rectification of wills |
Joint and Mutual wills
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Introduction |
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Joint wills |
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Mutual wills |
Revocation of a will
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Introduction |
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By subsequent will or codicil |
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By destruction |
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By marriage or civil partnership |
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Partial revocation |
Wills: legacies and devises
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Background |
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Classification of legacies and devises |
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Ademption |
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Lapse (England, Wales and Northern Ireland) |
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Vesting (Scotland) |
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Abatement |
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Abatement where there are not enough assets to pay the gifts in full |
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Abatement caused by grossing up under s.38 |
The incidence of debts and legacies
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Debts charged on property |
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Acceptance of liability to pay debts |
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Payment of uncharged debts out of the estate |
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Payment of legacies |
Intestacy
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Background |
Intestacy (E & W)
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Summary of the main rules of intestacy - chart |
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Rules of intestacy |
Distributions under intestacy (E & W)
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Surviving spouse or civil partner |
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Statutory legacy |
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Other factors affecting surviving spouse's or civil partner's entitlement |
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Issue |
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Other persons |
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Bona vacantia |
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Beneficiary does not take up an entitlement under intestacy |
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Partial intestacy |
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Hotchpot |
Intestacy (Scotland)
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Summary of the main rules of intestacy - chart |
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Rules of intestacy |
Distributions under intestacy (Scotland) -
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Surviving spouse or civil partner |
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Children |
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Other persons |
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Ultimus haeres |
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Beneficiary does not take up an entitlement under intestacy |
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Partial intestacy |
Intestacy (NI)
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Summary of the main rules of intestacy - chart |
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Rules of intestacy |
Distributions under intestacy (NI)
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Surviving spouse or civil partner |
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Statutory legacy |
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Other factors affecting surviving spouse's or civil partner's entitlement |
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Issue |
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Other persons |
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Bona vacantia |
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Beneficiary does not take up an entitlement under intestacy |
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Partial intestacy |
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Hotchpot |
Succession: simultaneous deaths (Commorientes)
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Introduction |
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General law (England and Wales) |
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General law (Scotland) |
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General law (Northern Ireland) |
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IHT position |
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Death of younger |
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Death of elder |
Scottish Prior and Legal Rights
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Introduction |
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Prior and Legal rights - chart |
Prior rights
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Prior rights on Intestacy |
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Value for prior rights |
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Examples of prior rights calculations |
Legal rights
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Introduction |
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Inheritance tax practice on death |
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Inheritance tax practice where legal rights are discharged |
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Other inheritance tax implications |
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Value and estate from which legal rights can be claimed |
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Time limit for claim |
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Election between testamentary and legal rights |
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Effect of lifetime disposals on legal rights entitlement |
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Claim or discharge of legal rights |
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Death of potential claimant |
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Example of legal rights calculation |
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Young persons under 18 |
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Adults with incapacity |
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Definition of children |
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Meaning of representation |
Example of legal rights calculations
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The facts |
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The succession |
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Individual succession rights, where claims or discharges of legal rights have yet been made |
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Scenario 1 |
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Scenario 2 |
