Assent of assets by personal representatives


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Private Client expert
Practice notes

Assent of assets by personal representatives


Published by a ÀÏ˾»úÎçÒ¹¸£Àû Private Client expert

Practice notes
imgtext

Personal representatives (PRs) can transfer assets to beneficiaries in any way that would also be available for the lifetime transfer of such property.

In addition, there is a further method of transfer that is only available to PRs: the assent.

Assent of pure personalty

An assent is an indication by the PRs that they do not require an asset for estate administration purposes and that the property may pass to the beneficiary entitled under the testator's Will.

No formality is required for an assent of pure personalty. It may be:

  1. •

    in writing

  2. •

    made orally, or

  3. •

    implied from conduct

The effect of an assent is to activate the gift of the property to the beneficiary. Further formalities to transfer the legal title in the property to the beneficiary must also be complied with where necessary.

Once the PRs have assented an asset effectively, they hold the property concerned on trust to carry out these further requirements.

In the case of some assets, verbal assent or even the fact of the PRs allowing

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Assent definition
What does Assent mean?

A method of transfer of estate property only available to personal representatives (PRs). An assent activates the gift of estate property to the beneficiary and, after assent, the PRs hold the asset on trust for the beneficiary until any further formalities to transfer the legal title have been complied with.

Read more

Popular documents

Personal representatives—authority prior to grant of representation

Personal representatives—authority prior to grant of representationExecutorsGeneralAn executor is a person appointed by the testator, usually by their Will or codicil, to:•administer their property, and•carry into effect the provisions of the WillThe office of executor derives from the testator’s

Assent of assets by personal representatives

Assent of assets by personal representativesPersonal representatives (PRs) can transfer assets to beneficiaries in any way that would also be available for the lifetime transfer of such property.There is an additional method of transfer that is only available to PRs: the assent.Assent of pure

A grant of probate has been issued with powers reserved to an appointed executor under a Will. How can

A grant of probate has been issued with powers reserved to an appointed executor under a Will. How can the executor obtain full powers?Reservation of power to non-proving executor(s)A person appointed as executor under a Will is not obliged to accept the appointment. If they do not wish to accept

Scotland—the process for applying for sequestration

Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of