I wonder if anyone has some useful thoughts or guidance on the following ~ My Sister-in-law died recently, (I am a named Exor) and on looking at her Will (made in 2006) it allows for a NRB Disc. Trust (NRBDT). Given that under the new rules I believe there is an ability to transfer the balance of her NRB to her husband on his death, it seems that the NRBDT isn't necessary (the joint wealth of the couple is much less than £325k x 2 & the split is fairly even, the main asset being the residence @ £310k). If the Exors where to amend the will via a Deed of Variation so to merely pass on all her assets to her husband, can contributors indicate what would be the likely cost? Do you also think there is a better route?
In completing the Probate application forms I am considering renouncing my position as Exor ~ mainly because of the geographical logistics. As I am named as a Trustee of the NRBDT, and if no changes are made, would my renouncement as Exor. also apply to the Truteeship, or would I remain a Trustee (but not an Exor and consequently not "capable" of applying for the Probate)?
Your thoughts would be gratefully received.