A man has left his estate to his nephews and brothers. He has not left anything for his son who he has not met for the last 30 years. The dilemma is, his brothers and nephews do not want to be beneficiary for the will. They want the estate to go to his son.
As the executor, what shall I do? How can I include the son in the will and remove all other beneficiaries?
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Google “deed of variation”. If the beneficiaries are unanimous, as you say, there is no problem.
John is right as far as he goes, but this is a forum for accountancy-related issues. Deeds of variation have tax consequences and accountants know about them, but they are fundamentally legal documents, not accounting ones. You might find yourself running into the Legal Services Act of 2007 before you get much further.
It's time to take your queries to advisors. Legal advisors, to start with.
It is clear from this and your previous questions that you are out of your depth. You should appoint a solicitor to handle this will.
Well certainly back with ICAS in the 1980s you had to have done a year of law at university ,covering certain areas like contract, partnership, company law, delict (Tort down south) , agency and insurance to be permitted to even become an apprentice.
Of course not much use re varying a will but helpful for the accountant when he is sued for profferring advice outwith his/her sphere of competence.
Give it a few more years and accountants will catch up with solicitors, MPs and journalists.
Give it a few more years and accountants will catch up with solicitors, MPs and journalists.
But not estate agents.
Somehow omitted them from one of the Circles of Hell- then again I am now also a P/T employee with a commercial property agency which may possibly, subconsciously, account for my missing them from the list.