3. Dying Testate vs. Dying Intestate

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Questions and Answers

What is a primary advantage of dying testate compared to dying intestate?

Estate distribution does not require any legal action.

The estate is automatically inherited by the state.

The succession process is simpler and faster.

Beneficiaries can be chosen and legacies determined. (correct)

What issue may arise if a person dies intestate?

All heirs will equally divide the estate.

Step-children will automatically inherit a share.

The estate is guaranteed to be inherited by family members.

The intestate may have unexpected beneficiaries. (correct)

What is one consequence of choosing an executor who is disqualified from serving?

There may be delays in obtaining a grant of letters of administration. (correct)

The testator's wishes are upheld without complications.

The estate will be distributed before probate.

The will becomes invalid and cannot be executed.

What does the Intestate Succession Act govern?

The distribution of assets when someone dies without a valid will. Signup and view all the answers

Why is it important for a testator to choose an executor who is willing to accept the role?

Unwilling executors can complicate the probate process. Signup and view all the answers

What happens if the appointed executor renounces their appointment?

Another executor must be chosen through the court. Signup and view all the answers

Which of the following statements regarding dying intestate is false?

The estate is distributed according to the deceased’s wishes. Signup and view all the answers

What is the impact of Section 400(1) of the IRDA on bankrupts named as executors?

The court may allow bankrupts to take up their appointment. Signup and view all the answers

What happens to a deceased's assets if they die with a valid will?

The assets vest in the executor(s) immediately upon death. Signup and view all the answers

In the event of a person dying intestate, who automatically becomes the guardian of the children if the other parent survives?

The surviving parent. Signup and view all the answers

What is required for the assets of an intestate decedent to vest in the administrators?

A grant of letters of administration. Signup and view all the answers

What can a testamentary guardian do if the surviving parent of the infant children objects to their appointment?

Apply to court for orders to act as guardian. Signup and view all the answers

Which of the following is true if both parents die without a will?

There may be disputes among next-of-kin about guardianship. Signup and view all the answers

What must be proven in cases of intestacy regarding the deceased's beneficiaries?

The deceased's religion and personal law. Signup and view all the answers

What does a testamentary guardian need to consider when acting as guardian alongside the surviving parent?

The objections of the surviving parent. Signup and view all the answers

What does the public trustee do in the case of an intestate estate in Singapore?

Hold the assets until a Grant is obtained by the administrator. Signup and view all the answers

What is a potential disadvantage of an administrator having to find sureties for an estate?

It could delay the grant process. Signup and view all the answers

How can a testator ensure family wealth preservation without violating any laws?

By stipulating limited time for accumulation under perpertuities rules. Signup and view all the answers

What is one of the implications of dying intestate regarding estate distribution?

Heirs are entitled to their full shares without delay. Signup and view all the answers

What can result from the transfer of property by way of intestate succession?

High stamp duty can apply due to subsequent arrangements. Signup and view all the answers

What is an advantage of having a valid will regarding stamp duty for beneficiaries?

No stamp duty is payable on property transfers by assent. Signup and view all the answers

What happens if a testator leaves a specific property to a beneficiary in their will?

The beneficiary receives the property without stamp duty upon assent. Signup and view all the answers

What charge may come from the administrator looking for sureties?

It could incur fees that reduce the estate's value. Signup and view all the answers

In what situation can debts of the estate impact beneficiaries under intestacy?

Debts must be covered before beneficiaries receive anything. Signup and view all the answers

What rights do executors have when a valid will exists?

They must wait for the grant of probate to commence any proceedings. Signup and view all the answers

Which statement is true regarding individuals who die intestate?

No legal proceedings can commence without a grant of Letters of Administration. Signup and view all the answers

Why do some individuals avoid creating a will despite its advantages?

They are uncertain of how to distribute their estate. Signup and view all the answers

What can individuals who create a will enjoy compared to those who die intestate?

They can appoint an executor to ensure their wishes are honored. Signup and view all the answers

What is the first step for executors to take before pursuing legal action?

Extract the grant of probate. Signup and view all the answers

Which of the following reflects a misconception about making a will?

Making a will guarantees the estate will not go through probate. Signup and view all the answers

What happens to the estate of an individual who dies intestate?

It is distributed according to intestacy laws under the Intestate Succession Act (ISA). Signup and view all the answers

What is the primary role of an executor named in a will?

To ensure the distribution of the estate follows the wishes of the deceased. Signup and view all the answers

What is the role of the executor if they die after obtaining the grant of probate?

The executor's appointed successor continues the administration. Signup and view all the answers

What happens if an administrator dies without completing the administration of an intestate estate?

The beneficiaries must apply for a grant de bonis non. Signup and view all the answers

When is there no requirement for executors to provide sureties in the administration bond?

When the executors prove the will. Signup and view all the answers

What must all applications for letters of administration to the Family Division of the High Court include?

An administration bond with two sureties. Signup and view all the answers

What is the purpose of obtaining a grant of probate?

To validate the will and allow administration of the estate. Signup and view all the answers

Which of the following does NOT need to be done if an executor successfully proves the will?

Look for two people as sureties. Signup and view all the answers

What is the significance of the gross value of the estate in regards to the administration bond?

It is the amount secured by the administration bond. Signup and view all the answers

What is one essential consequence of dying intestate in terms of estate administration?

Beneficiaries must initiate a new application for administration. Signup and view all the answers

Study Notes

Dying Testate vs. Dying Intestate - Advantages of Dying Testate

Beneficiary Selection: Testators can choose their beneficiaries and determine their legacies, subject to reasonable provisions for dependents. Intestacy follows the Intestate Succession Act, potentially distributing the estate to undeserving individuals or the state.
Executor and Trustee Appointment: Testators can choose their executor and trustee and set appointment terms. The court is more likely to allow a bankrupt named as executor to take up the appointment if chosen by the testator.
Estate Vesting: A testator's assets vest in the executor(s) upon death, allowing the executor to handle affairs before obtaining the grant of probate. In intestacy, the estate vests in the administrators only after obtaining letters of administration, potentially leaving the estate in limbo.
Guardian Appointment: Testators can appoint testamentary guardians for their infant children. Intestate succession allows the surviving parent to be the sole guardian, regardless of suitability.
Administration Efficiency: Testators can avoid the need to prove religious, custom, and personal law aspects of the estate, simplifying the process compared to intestacy.
Chain of Executorship: If an executor dies before completing administration, the executor of the executor's will (if any) takes over. Intestacy requires a fresh application for a grant de bonis non if the administrator dies.
Administration Bond: Testators avoid the requirement of providing sureties or an administration bond, saving costs and time. Intestacy requires an administration bond and two sureties, adding complexity and financial burden.
Preservation of Family Wealth: Testators can stipulate the preservation of family wealth for a period of time, ensuring it's not squandered by heirs. In intestacy, beneficiaries receive their full entitlement immediately, limiting control over distribution.
Stamp Duty Savings: Testators avoid stamp duty on property transfers through a will, potentially leading to substantial savings. Intestate succession may necessitate subsequent Deeds of Family Arrangement to reallocate the estate, incurring significant stamp duty.
Legal Proceedings: Executors can commence legal proceedings in their capacity as executors even before obtaining probate. In intestacy, only individuals with a grant of letters of administration can commence proceedings.
Personal Representative Remuneration: Testators can specify remuneration terms for their executors or trustees. Intestacy does not provide for specific remuneration terms for administrators.

Why People Choose Not to Make Wills

Individuals may choose not to make wills because they cannot decide on the distribution of their estates and are content with the Intestate Succession Act's provisions.
Despite the advantages of testacy, such individuals should still be encouraged to create a will to appoint an executor and ensure their desire for distribution according to the ISA is carried out.

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Description

This quiz explores the advantages of dying testate over intestate succession. Learn about beneficiary selection, the appointment of executors, estate vesting, and the ability to appoint guardians for minor children. Understanding these differences is crucial for effective estate planning.