This assessment will test your knowledge and understanding of the course materials you have read.

Please answer every questions

1.  What is a Will? (1 answer required) 

 
 
 

2.  Why make a Will? (1 answer required) 

 
 
 

3.  How old do you need to be to make a Will? (1 answer required) 

 
 
 

4.  What is a Statutory Will? (1 answer required) 

 
 
 

5.  What is a Privilege Will? (1 answer required) 

 
 
 

6.  Which 3 of the following assets can be passed through a Will. (3 answers required) 

 
 
 
 
 
 

7.  Which 3 of the following assets cannot be passed through a Will. (3 answers required) 

 
 
 
 
 
 

8.  What is the purpose of the Inheritance (Provision for Family and Dependents) Act 1975. (1 answer required) 

 
 
 

9.  Which 3 classes of person are most likely to look to claim under the Inheritance (Provision for Family and Dependents) Act 1975. (3 answers required) 

 
 
 
 
 
 

10.  What are the effects of marriage on a Will? (1 answer required) 

 
 
 

11.  What are the effects of divorce on a Will? (1 answer required) 

 
 
 

12.  What are the key aspects of the Attestation that are required to ensure a legally binding Will. (1 answer required) 

 
 
 

13.  What is the IHT threshold for the NRB (1 answer required) 

 
 
 

14.  What is the RNRB threshold for the year 2018 (1 answer required) 

 
 
 

15.  What is a PET (Potentially exempt transfer) (1 answer required) 

 
 
 

16.  Which of these classes of beneficiary when a gift is made to them is there no IHT payable (3 answers required) 

 
 
 
 
 
 

17.  What does it mean to die Intestate. (1 answer required) 

 
 
 

18.  What is Banks vs Goodfellows 1870 used to assess. (1 answer required) 

 
 
 

19.  Which 3 aspects of the legal test in Banks vs Goodfellows 1870 are listed below(3 answers required) 

 
 
 
 
 
 

20.  What two types of LPA are listed below (2 answers required) 

 
 
 
 

21. In an LPA is the Donor? (1 answer required) 

 
 

22. In an LPA is the Attorney? (1 answer required) 

 
 

23. In an LPA what does Jointly and Severally mean. (1 answer required) 

 
 
 

24. What is the cost of registration on an LPA (1 answer required) 

 
 
 

25. What is the minimum amount of Trustees required to act when setting up a Discretionary Trust? (1 answer required) 

 
 
 
 

26. What is the maximum amount of Trustees allowed to act when setting up a Discretionary Trust? (1 answer required) 

 
 
 
 

Question 1 of 26