WIQS—specific post-administration aspects
WIQS—specific post-administration aspects

The following Wills & Probate practice note provides comprehensive and up to date legal information covering:

  • WIQS—specific post-administration aspects

WIQS—specific post-administration aspects

While the administration of an estate is being dealt with, there are two particular issues that may arise:

  1. variation of the dispositions in the Will or entitlements on an intestacy, and

  2. potential or actual claims under the Inheritance (Provision for Family and Dependants) Act 1975

The checklist enables the practitioner to meet the requirements of WIQS when either or both of these issues come into play, by giving guidance on how to deal with advice to both personal representatives and beneficiaries.

Equally, the practitioner may well be faced with the situation of a continuing settlement, and the checklist further allows the practitioner to deal with this in accordance with the WIQS requirements.

1ADVISING ON VARIATION OF DISPOSITIONS
1.1 Taking instructions
1.1.1 When acting for PRs, ensure that they are aware that the standard retainer does not include advice on the variation of dispositions
1.1.2 When acting as professional PRs, ensure that the beneficiaries are aware that the standard retainer does not include advice on the variation of dispositions
1.1.3 Where it is clear that a post death variation may have advantages (eg tax savings):
1.1.3.1 explain in outline the advantages and ask whether detailed advice is required
1.1.3.2 if detailed advice is wanted:
(a) explain that they are not obliged to instruct the practice and can go elsewhere
(b) provide clear information in writing on

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