Associate Banking Diploma — Option Subject Administration of Estates
Objective To enable candidates to make sound and reasoned decisions concerning the most common problems that arise in the administration of estates.
1. Pre Death
1.1	Making of Wills: capacity of testator; effect of insanity, insane delusions; statutory wills; effect of domicile, residence, nationality; proof of capacity; practical safeguards. Intention; undue influence, fraud, suspicious circumstances, mistake; blind, illiterate testators; proof of intention; practical safeguards. Formalities; s.9 Wills Act 1837; capacity of witnesses; s.15 Wills Act; proof of compliance with formalities; attestation clauses.
1.2	Privileged wills.
1.3	Mutual wills; joint wills.
1.4	Revocation of wills; express; implied; presumed; destruction; marriage; effect of divorce; Law Reform (Succession) Act: conditional revocation.
1.5	Alteration to wills; s.21 Wills Act; conditional alterations; practical safeguards.
1.6	Revival and republication; codicils.
1.7	Appointment of executors, guardians, trustees, Charging clauses; capacity.
1.8	Gifts in wills; legacies; devises; specific general, demonstrative gifts, incorporation by reference; ademption; lapse, exceptions to lapse; s.33 Wills Act.
1.9	Administrative provisions; apportionment rules in equity and under the Apportionment Act 1870; appropriation, receipt clauses; (investment, maintenance, advancement - in outline only).
1.10	Typical will forms.
2. Interstate Succession
2.1	Total and partial intestacy; distribution of assets; statutory trusts; Law Reform (Succession) Act.
3. Donationes Mortis Causa
4. Post Death
4.1	Obtaining grant • personal representatives; executors, administrators; trust corporations; their powers, duties, liabilities and rights; use of agents. • common types of grant, including settled land and act grants, grants de bonis non, chain of representation; foreign grants ad their recognition. • Inland Revenue accounts; excepted estates, variations and disclaimers. • supporting affidavits of due execution, plight and condition and non-revocation. • caveats and citations.
4.2	Renunciation and revocation of grants; acceptance of office; intermeddling;; executor de son tort; passing over.
4.3	Contentious probate.
5. The Deceased’s Estate
5.1	Construction of wills; s.24 Wills Act; s.27 Wills Act; Administration of Justice Act; legitimacy, illegitimacy, adoption.
5.2	Valuation and realization of assets including joint property, nominated property, foreign property, quoted and unquoted shares.
5.3	Payment and incidence of debts; abatement; secured and unsecured creditors; s.35 Wills Act; marshalling; solvent and insolvent estates; unknown creditors; claims against the estate.
6. Distribution to Beneficiaries
6.1	Incidence of legacies; apportionment of interest and capital; income and interest on legacies.
6.2	Ascertaining beneficiaries; Benjamin orders; vesting in beneficiaries and trustees; assents.
6.3	Rectification of wills.
6.4	Family provision:- applicants; standard of provision; guidelines; types of order; effect of orders; anti-avoidance provisions; time limits.
6.5	Election, performance and satisfaction.
6.6	Secret and half-secret trusts.
6.7	Settled land.
THE EXAMINATION Time Allowed: Three hours. Examination Format: The paper consists of eight 20 - mark questions, from which candidates should attempt five questions. RECOMMENDED READING M Sladen, Practical Trust Administration (CIB/Bankers Books). L S Spedding, Succession - Textbook (HLT Publications). Further reading P H Parry & J B Clark, The Law of Succession (Sweet & Maxwell). J S Barlow, L C King & A G King, Wills Administration and Taxation; A Practical Guide (Sweet and Maxwell). M Sladen, Modern Law of Inheritance (Temple Mead Press).