The Administration of Estates Act 1925/S34 (3) sets out the order in which the deceased's estate should be used to pay their debts and funeral costs and costs of administering the estate. It provides that a deceased person's real and personal estate shall ‘be applicable towards the discharge of the funeral, testamentary and administration expenses, debts and liabilities payable thereout in the order mentioned in Part II of the First Schedule’ to the Act. The schedule is as follows

Order of Application of Assets where the estate is solvent

(1)Property of the deceased undisposed of by Will, subject to keeping back a fund sufficient to meet any pecuniary legacies

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.