Question on a Deed of Variation.

[roythegrass]

There are say 10 beneficiaries in a Will. A close family member of the deceased has not been included.
One of the beneficiaries has agreed a Deed of Variation relinquishing their inheritance in favour of the excluded family member. This does not effect the percentage share of the other beneficiaries.
The D of V is drawn up properly and signed by the existing a new beneficiary.
Do all 10 of the beneficiaries have to agree the D of V or just the parties to the deed?
Thanks
Roy

[des8]

The parties who are affected by the deed are the only persons who need to sign it

[roythegrass]

Thanks for that DES8 -as I suspected. That issue with one of the beneficiary A has now been resolved.
Now another issue with another beneficiary B has arisen.
They are querying several aspects of the solicitor’s final statement and distribution account. That will incur the lawyer’s costs in addressing the matter (to the detriment of the other beneficiaries) Can the solicitor proceed with distribution to the remaining beneficiaries whilst withholding settlement to beneficiary B until resolved?

[des8]

If the solicitor is (or is acting on the instructions of) the executor he is likely to pause the distribution, because any costs properly incurred are payable by the estate.
If he charges these extra costs to the estate they are taken out of the residue, which inevitably will reduce the amount available for residuary beneficiaries

[roythegrass]

Thanks for that DES8.
If a beneficiary with a negligible inheritance were so minded they could continue to raise innumerable spurious queries with the solicitors thus unreasonably delaying distribution and costing the remaining beneficiaries the solicitors costs.

[des8]

Such a minded beneficiary could, but eventually the executor could call his bluff and just distribute the estate.

Beneficiaries cannot just demand information for the sake of being difficult.
If the executor refuses to answer or supply information , the beneficiary could take the executor to Court for an account and inquiry order.
Success in court for the beneficiary will depend on the circumstances and the reason for applying, so he should be wary;
On the other hand such moves have a cost, and an executor might take the view that preserving the estate from costs of a court action by answering spurious questions is worthwhile

[roythegrass]

One final question.
Following the solicitor sending a distribution account a beneficiary charity has raised a query on inheritance tax and how it was attributed to the value and distribution of the estate stating the will did not direct that the inheritance tax was to be borne equally between the beneficiaries. The charities share is exempt from IHT and the solicitor has sent an amended account increasing the charities share and thus reducing the share of the other beneficiaries.
1) I believe the solicitor should have known that the –well known- charity was exempt from IHT. 2) Is it likely the solicitor has overpaid IHT to HMRC and 3) IHT is payable (except the charities) irrespective of the wording of the will.
Thoughts?

[des8]

I think you are correct and additionally the solicitor should contact HMRC to obtain a refund of overpaid tax.
Query it with him (nicely) in the first place, and ask HMRC if you are correct