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

We were instructed to advise two professional executors upon issues relating to the administration of a £3m estate which presented a formidable array of challenges. Not least, the looming threat of legal proceedings for disclosure being brought against our clients.

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 were instructed to advise on several elements, including:

• The threat of proceedings being brought against our clients for disclosure;
• Issues around the valuation of the estate and how to address valuation issues with the beneficiaries;
• Dealing with substantial claims (worth in excess of £500,000) being asserted against the estate;
• How to respond to requests that they as Trustees should exercise discretionary powers under the Will; and
• Advising the executors on the steps they should take in connection with multiple claims on the estate advanced under the Inheritance (Provision for Family and Dependants) Act 1975

In addition to assisting with these elements, we also:

• Advised our clients on their duties and how best to approach matters that ensures they are complying with those duties;
• Provided advice on the tax implication of settlement;
• Draft deeds of appointment;
• Facilitated settlement discussions; and
• Prepared orders to help execute agreements reached

We guided the executors on exercising discretionary powers under the will, helping them to avoid any potential ramifications. With meticulous planning and foresight we advised them on the estate’s obligations under the Inheritance (Provision for Family and Dependants) Act 1975 to effectively navigate multiple claims on the estate.

Additionally we advised our clients on their executor duties and how best to approach matters to ensure they comply with those duties. Furthermore, we provided advice on the tax implication of settlement to ensure fiscal prudence, crafted deeds of appointment and facilitated settlement discussions leading to a successful resolution. As a final act we prepared orders to help execute the agreements reached.

The outcome 

We successfully resolved the issues impacting our clients and obstructing the administration of the estate, helping the parties to agree the claims and the manner in which the assets would be distributed.

How we made a difference

Our role was not just advisory, but strategic, requiring input from our contentious team as well as our private wealth and teams. Together we helped our clients to navigate the legal issues and to safeguard the interests of our clients and the estate alike.

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.