Timing of Deed of Variation

DippySkippy

Currently executor handling a poorly written will. Trying to agree a Deed of Variation which should allow claim of the RNRB downsizing allowance - would save £70k so both beneficiaries (who are also executors) are better off.

Other executor has personally engaged their own solicitor (not acting for estate) who is insisting that I submit the IHT400, get probate and then they might agree to the DoV. I know I have 2 yrs to submit DoV but this would mean I'd have to file some kind of correction post probate and claim back the IHT overpayment. The solicitor is saying I am holding up probate by not proceeding and even threatened court action. 

Can court action be taken against me? 

It's a bit more complicated because ideally the DoV will remove a Trust so we are trying to agree on removing the Trust in exchange for a cash legacy.

Keep_pedalling

I don’t think you have a choice if they won’t commit to making a DoV now (having read your previous thread it sounds like there is a good chance they never will). Yes they could take court action against you, they may not win but it will still be expensive. 

DippySkippy

Keep_pedalling said:

I don’t think you have a choice if they won’t commit to making a DoV now (having read your previous thread it sounds like there is a good chance they never will). Yes they could take court action against you, they may not win but it will still be expensive. 

Thanks, the Trust beneficiary wants far too much to remove Trust (the alternative cash legacy could be used to purchase a much better life annuity). As you say - if they dont agree then I have no choice but to proceed.

If we cant remove Trust then I am considering an alternative DoV which change the Will such that the RNRB could be claimed but retains the Trust. Could I argue that they must agree to this as otherwise they are negligent in incurring extra £70K IHT - and as beneficiary I could claim this loss against them?

Keep_pedalling

DippySkippy said:

Keep_pedalling said:

I don’t think you have a choice if they won’t commit to making a DoV now (having read your previous thread it sounds like there is a good chance they never will). Yes they could take court action against you, they may not win but it will still be expensive. 

Thanks, the Trust beneficiary wants far too much to remove Trust (the alternative cash legacy could be used to purchase a much better life annuity). As you say - if they dont agree then I have no choice but to proceed.

If we cant remove Trust then I am considering an alternative DoV which change the Will such that the RNRB could be claimed but retains the Trust. Could I argue that they must agree to this as otherwise they are negligent in incurring extra £70K IHT - and as beneficiary I could claim this loss against them?

You cant insist on them doing anything, the negligence is down to the testator. Unfortunatly some people some people will just not do the right thing because they are bloody minded and enjoy creating problems for others. The will entitles them to a life interest so they are trying to use this to extort money they don’t need from the estate. .

All you can do is to complete the IHT return, pay the IHT due and complete the probate application. If I was you I would just accept the IHT is due, pay it and tell him where to stick his DoV.