The deceased’s Will appoints the partners of the firm of solicitors drafting the Will to be the executors and trustees of the Will. There is no successor clause and at the date of the deceased’s death, the firm that prepared the Will no longer existed.
There is no substitute executor named.
Two of the residuary beneficiaries have therefore acted as administrators of the estate.
The Will includes a six month right of occupation. The right of occupation never took effect and at no point since the date of death did the person with the right of occupation reside in the deceased’s property.
I understand, however, that there is a possibility that HMRC may regard the right of occupation as a life interest trust and treat it as such on the death of the person who had the right of occupation.
In the circumstances, would the partners of the successor firm need to sign a Deed of Disclaimer of Trusteeship to disclaim as trustees of the potential trust, or would this not be required as their appointment fails and instead the role of trustees has fallen on those acting as the administrators of the estate?
Any thoughts would be most appreciated.