Advising executors and trustees on complex issues relating to the administration of a £3m estate.

We were instructed to advise upon multiple issues relating to the administration of a £3m estate. The key issues related to problems with the value of the Estate, including the value of multiple corporate vehicles and commercial properties, and how our clients as Trustees should exercise their discretion in the face of a claim being advanced under the Inheritance (Provision for Family and Dependants) Act 1975.

The challenge 

Valuation issues concerning the estate emerged as a prominent hurdle, demanding delicate negotiation and communication with the beneficiaries. Complicating matters further were substantial claims, exceeding £500,000, that were being asserted against the estate, requiring strategic handling and rigorous defence.

Our approach 

Our approach was considered and methodical. We advised our clients upon their obligations as executors and as trustees, including on the appropriate role to adopt as executors and trustees where there are claims against an estate.

Part of that advice concerned the factors that our clients as trustees should consider when exercising discretionary powers as trustees and the interaction between those powers and the 1975 Act.

An important factor in this case was the impact of tax and we advised our clients on the tax implication of the proposed settlement and drafted deeds of appointment to give effect to the settlement agreed.

The outcome 

All outstanding issues were resolved for our clients and the wider family on positive terms.

How we made a difference

Our role was not just advisory, but strategic, requiring adept navigation of legal intricacies and interpersonal dynamics to safeguard the interest of our clients and the estate alike. We were able to successfully navigate a complex landscape of issues due to our experience in handling and resolving executor and trustee disputes.

If you are handling a complex estate and require advice on how best to approach the administration, please contact a member of our inheritance disputes team.