Executor responsibilities to beneficiaries Manchester with Bromleys

Deed of variation Oldham by bromleys.co.uk? If you are looking for a Conveyancing Solicitor in Stockport then we can assist. Our Residential Conveyancing Team offer legal advice to clients in Stockport and throughout the Greater Manchester area. Whether you’re after straightforward legal advice for a property purchase or you’re looking for help with more complicated issues such as property litigation or tenancy rights, then we can help. Bromleys have a dedicated Conveyancing team providing advice to clients in and around Stockport.

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Bromleys is the trading name of Bromleys Solicitors LLP, formerly known as Bromley Hyde & Robinson. We’ve been based in Ashton-under-Lyne for over 175 years and are authorised and regulated by the Solicitors Regulation Authority. We have an excellent reputation with our clients, peers and the wider business community and pride ourselves on providing clear, concise legal advice. We have very strong links within the local community and we not only act for, but strongly support local charities. We also provide free legal advice at our twice-weekly clinics to members of the local community. We are proud to be associated with both Tameside and Manchester. Read more details on conveyancing solicitors Stockport.

It is the duty of the Executor to administer the estate, valuing it for Inheritance Tax purposes and seeing that any tax due is paid. Whilst many people are already aware of this, they do not realise that they may be held personally liable for the Inheritance Tax Bill even if they aren’t a beneficiary of the estate. It is possible to be both an Executor and a beneficiary of an estate.

There are a number of reasons for using Deeds of Variation such as providing for someone who had been excluded from a Will, taking account of differences in the financial positions of beneficiaries or just to pass assets on to the next generation. Many people will use Deeds of Variation for their own estate planning purposes, they may not need the money themselves and would only be inflating an already sizeable estate so it is better to skip themselves and pass it straight on to their children or grandchildren. Often people have not reviewed their Wills for many years and the laws have changed meaning that there are benefits to passing the estate in a different way to take advantage of new tax rules, this is another common reason for doing Deeds of Variation, it is possible that a Will may be less tax efficient at death than it was when it was signed. Discover additional info on https://www.bromleys.co.uk/.