TSEM6104 - Legal background to trusts & estates administrator's duties
Administration of Estates Act 1925
The administrators become the legal owners of the deceased바카라 사이트™s estate, but not for their own benefit. They are required to sell the assets and meet all debts of the estate. They may postpone the sale if they think this is advantageous.
They pay for the funeral, and meet any debts (including inheritance tax), out of the proceeds of sale. Then they calculate the amount of 바카라 사이트˜residue바카라 사이트™. This latter process is known as the 바카라 사이트˜ascertainment of residue바카라 사이트™. The rules of intestacy provide for distributing the residue. They are primarily contained in the . Details of the rules of intestacy are at TSEM7800 onwards