Hi All,
I am hoping that someone may be able to assist with the below:
I am acting in the administration of an estate where the residue is left on a Discretionary Trust, the primary potential beneficiaries of which, according to the Letter of Wishes, are the deceased’s children.
One of the deceased’s children has died and there are concerns as to the capacity of the surviving child (over eighteen), such that a mental capacity assessment was requested (there is no LPA or Deputyship Order).
I have since been advised by a family member of the deceased’s child that she wishes to have nothing to do with the potential inheritance.
What is the correct procedure in the circumstances?
I feel that subject to a mental capacity assessment it would be advisable to have something in writing from the deceased’s child effectively disclaiming her potential interest in the trust but am not sure if this is necessary given that it is a discretionary trust?
I am also not sure if the trust fund could then be distributed to the potential beneficiaries named in the Letter of Wishes (in the event that the deceased’s children had died)?
Any suggestions would be gratefully received!
Thanks,
Helen