Testator predeceased by trustee

MrsMS

Yorkshireman99 wrote: »

As executor you are legally obliged to administer the will as written. You have no discretion in the matter regardless of what you think your father's wishes were. The only way the estate can be distributed in a different way is if all the beneficiaries agree and they can execute deeds of variation.

Hi Yorkshireman
I take offence that you assume that I lack discretion and that I have no honour for my father. My father was my hero. I ask you kindly, do not cast judgement of me as you do not know me.
Could you please kindly explain your comment.
I understand the subject matter of your above given advice and I am fully aware of my legal obligations. However, I am struggling to connect the relevance of your advice to the matter at hand. How can I distribute an asset that is not there.
Therefore, I would like to thank you for your time but I find your input nugatory and ineffectual.

MrsMS

Thank you so much for your responses everyone. I will discuss a deed of variation with my legal team.
In the matter of fairness..... I also have another sibling that isn't included at all. the reason is unknown. My father was a kind loving father and it astonishes me that he would leave a child out of his will.

Linton

MrsMS wrote: »

Hi Yorkshireman
I take offence that you assume that I lack discretion and that I have no honour for my father. My father was my hero. I ask you kindly, do not cast judgement of me as you do not know me.
Could you please kindly explain your comment.
I understand the subject matter of your above given advice and I am fully aware of my legal obligations. However, I am struggling to connect the relevance of your advice to the matter at hand. How can I distribute an asset that is not there.
Therefore, I would like to thank you for your time but I find your input nugatory and ineffectual.

"No discretion" means that you as executor do not have authority to act differently to what is stated in the will when distributing the estate's assets. If you want to do something diffferently you will need to go through the right process.

Tom99

[FONT=Verdana, sans-serif]You are wearing two different an separate hats. As executor you must follow the legal rules when distributing the estate but as beneficiary you can do whatever you like with your inheritance.[/FONT]

MrsMS

Is it possible to somehow make the will invalid and then enter intestate. I have heard that intestate means high IHT

MrsMS

Linton wrote: »

"No discretion" means that you as executor do not have authority to act differently to what is stated in the will when distributing the estate's assets. If you want to do something diffferently you will need to go through the right process.

Oh I see....oops
My sincere apologies Yorkshireman :embarasse

Tom99

MrsMS wrote: »

Is it possible to somehow make the will invalid and then enter intestate. I have heard that intestate means high IHT

[FONT=Verdana, sans-serif]The inheritance tax rules are the same but a change in beneficiaries can result in more or less tax if one of them is the spouse.[/FONT]

MrsMS

Tom99 wrote: »

[FONT=Verdana, sans-serif]You are wearing two different an separate hats. As executor you must follow the legal rules when distributing the estate but as beneficiary you can do whatever you like with your inheritance.[/FONT]

What about my fathers wishes? It negates any point of drafting a will if it can just be changed when you pass. My father died unexpectedly aged 62. He was of sound mind. Also, this will is recent. It was drafted in 2012.

Mojisola

MrsMS wrote: »

What about my fathers wishes? It negates any point of drafting a will if it can just be changed when you pass. My father died unexpectedly aged 62. He was of sound mind. Also, this will is recent. It was drafted in 2012.

Your father has set out how he wanted to divide up his estate; if his beneficiaries decide to distribute the money differently, that's their choice.

It can only be changed with the agreement of anyone adversely affected by the changes - if that person/those people want to be generous to other people then they are entitled to give away their inheritance.

Tom99

MrsMS wrote: »

What about my fathers wishes? It negates any point of drafting a will if it can just be changed when you pass. My father died unexpectedly aged 62. He was of sound mind. Also, this will is recent. It was drafted in 2012.

[FONT=Verdana, sans-serif]Your father's wishes are being followed but any of his beneficiaries can do whatever they like with their own inheritance. They can refuse it altogether or give all or some of it to someone else if they want to.

[/FONT] [FONT=Verdana, sans-serif]If a will leaves £x to person A then only person A can reduce that sum, no-one else.

[/FONT] [FONT=Verdana, sans-serif]A deed of variation, which effectively alters a will after the event, is really only needed for Inheritance Tax and Capital Gains Tax purposes.[/FONT]