26 Jun
2024
26 Jun
'24
9:22 a.m.
Hi,
Larry wrote:
So I gave him my third but it is a pain in the butt.
You can only
gift so much each year without a tax implication.
AIUI, in the UK, a ‘deed of variation’ can alter the will's wishes as
long as all beneficiaries sign.
any kid can yield any portion to whoever they want and
it is as if you
wrote that into the trust/will.
That's open to sibling A pressuring B to yield without C-F knowing until
too late. Whereas if A-F have to sign then some of C-F may stand up to
the bully, knowing what A's like.
--
Cheers, Ralph.