Personal representatives wish to protect themselves against unknown claims from creditors. Which step gives them statutory protection?
Answer and explanation
Correct answer: D. Placing notices under section 27 of the Trustee Act 1925, giving at least two months for claims
- Step 1: Section 27 allows PRs to advertise for claims and then distribute free of personal liability for claims of which they had no notice.
- Step 2: The notice must give at least two months.
Answer
Placing notices under section 27 of the Trustee Act 1925, giving at least two months for claims.
Why not the others: A fixed 12-month wait is not the statutory step; quick distribution risks personal liability; court approval is not required.
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