SRA Samples
A man died leaving an estate comprising two bank accounts and a freehold property.
His will divided the residue of his estate equally between his son and his daughter. Five years ago the man and his son (who was then 22) had a serious argument and his son left the family home. None of the family has seen him since. The personal representatives (‘PRs’) have questioned other relatives and friends to attempt to ascertain the son’s whereabouts but with no success.
Three months ago the PRs placed advertisements complying with s.27 Trustee Act 1925 in the London Gazette and in a local newspaper. The PRs have had no responses to these notices from either the man’s son or anyone claiming to be a creditor of the estate. They propose to distribute the entire residue to the man’s daughter and pay only the creditors they currently know about.
Which of the following statements best describes the PRs’ protection from claims by creditors and beneficiaries as a result of the enquiries made and s.27 Trustee Act 1925 notices placed?
A man died leaving an estate comprising two bank accounts and a freehold property.
His will divided the residue of his estate equally between his son and his daughter. Five years ago the man and his son (who was then 22) had a serious argument and his son left the family home. None of the family has seen him since. The personal representatives (‘PRs’) have questioned other relatives and friends to attempt to ascertain the son’s whereabouts but with no success.
Three months ago the PRs placed advertisements complying with s.27 Trustee Act 1925 in the London Gazette and in a local newspaper. The PRs have had no responses to these notices from either the man’s son or anyone claiming to be a creditor of the estate. They propose to distribute the entire residue to the man’s daughter and pay only the creditors they currently know about.
Which of the following statements best describes the PRs’ protection from claims by creditors and beneficiaries as a result of the enquiries made and s.27 Trustee Act 1925 notices placed?
The PRs will be protected from claims by new creditors and unknown beneficiaries but not from a claim by the son.
A - The PRs will be protected from claims by new creditors and unknown beneficiaries but not from a claim by the son.
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