Power to appropriate without Grant


(Jalford) #1

Can executors appropriate property prior to sale without a Grant of Probate being obtained? The executors do not need a Grant in this particular estate and wish to appropriate the deceased’s half share in a property to 3 beneficiaries for CGT purposes. The value is small and even if a Grant application was made it would only be an IHT205 so there is no advantage in applying for the Grant to ascertain the probate value - the beneficiary will need to go through the CG34. The Will contains an extended power of appropriation. My understanding is that the executors derive their authority from the Will so the answer is yes.