testamentary expenses

testamentary expenses
England, Wales
There is no statutory definition of "testamentary and administrative expenses" in the Administration of Estates Act 1925 (AEA 1925), but case law provides guidance, considering them to mean expenses attendant on the proper performance of a personal representative's (PR) duties. The term includes:
• The costs of obtaining a grant of representation.
• Collecting in and preserving the assets of the deceased's estate.
• The costs of administering the estate, for example, professional fees of legal advisers and valuers.
inheritance tax due on death on the deceased's property in the UK which the PR holds.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужна курсовая?

Look at other dictionaries:

  • testamentary expenses — Expenses of administration. Construed in some instances, although not in others, as inclusive of estate taxes or duties, as the phrase appears in a direction by the testator to the executor for the payment by the latter of testamentary expenses.… …   Ballentine's law dictionary

  • Will (law) — Last Will redirects here. For the 2011 film, see Last Will (film). Wills, trusts …   Wikipedia

  • inheritance — /in her i teuhns/, n. 1. something that is or may be inherited; property passing at the owner s death to the heir or those entitled to succeed; legacy. 2. the genetic characters transmitted from parent to offspring, taken collectively. 3.… …   Universalium

  • Roman Law —     Roman Law     † Catholic Encyclopedia ► Roman Law     In the following article this subject is briefly treated under the two heads of; I. Principles; II. History. Of these two divisions, I is subdivided into: A. Persons; B. Things; C. Actions …   Catholic encyclopedia

  • PARENT AND CHILD — STATUS OF THE CHILD In Jewish law, there is no discrimination against a child because of the mere fact that he is born out of lawful wedlock. While the said fact may complicate the question of establishing paternity, once the identity of the… …   Encyclopedia of Judaism

  • United States trust law — Introduction Most law regulating the creation and administration of trusts in the United States is now statutory at the state level. In August 2004, the National Conference of Commissioners on Uniform State Laws created the first attempt to… …   Wikipedia

  • Germany — /jerr meuh nee/, n. a republic in central Europe: after World War II divided into four zones, British, French, U.S., and Soviet, and in 1949 into East Germany and West Germany; East and West Germany were reunited in 1990. 84,068,216; 137,852 sq.… …   Universalium

  • Living trust — A living trust (inter vivos trust) is a trust created during a person s lifetime. Living Trusts in the United StatesIn the United States, a living trust refers to a trust that may be revocable by the trust creator or settlor (known by the IRS as… …   Wikipedia

  • Elder law (Massachusetts) — See generally Elder law (U.S.).Elder law denotes the law, regulations, and prevailing good legal practices applicable to a range of issues affecting individuals aged 65 and over. The subject matter of elder law arises from careful legal analysis… …   Wikipedia

  • France — • Geography, statistics, and history Catholic Encyclopedia. Kevin Knight. 2006. France     France     † …   Catholic encyclopedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”