I am the executor for my step-uncle who died intestate. His sister and sole beneficiary wrote a deed of variation to redistribute the inheritance to her daughter, me and our cousins, in equal shares. I have probate and am nearing the end of sorting out all of the estate with just some shares to sell and then inheritance tax to be slightly adjusted.
One of the beneficiaries has asked if they can have part of their inheritance early to help them out with a housing issue. Releasing the money to them will still leave plenty of money to resolve any final IHT bill for the adjustment.
i have a couple of questions:
1. Am I allowed to do this? And 2. do I need to do anything special when releasing those funds if it is acceptable?
3. does a deed of variation actually need registering anywhere? There’s nothing on the guidance that I can find.
thanks for any help.
One of the beneficiaries has asked if they can have part of their inheritance early to help them out with a housing issue. Releasing the money to them will still leave plenty of money to resolve any final IHT bill for the adjustment.
i have a couple of questions:
1. Am I allowed to do this? And 2. do I need to do anything special when releasing those funds if it is acceptable?
3. does a deed of variation actually need registering anywhere? There’s nothing on the guidance that I can find.
thanks for any help.
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