CG31980 | Death and Personal Representatives: Non-retrospective variations: assets still vested in PRs

On a sale of an interest in the estate for cash the total consideration given will be immediately apparent. However where the variation was made in return for the assignee giving up a right to take Court action it will be necessary to value the consideration. This value should be taken as equal to the sum that a person would have been prepared to pay to acquire such an interest on the assumption that

• that person had obtained information about the assets that were likely to vest from the estate

and

• had then discounted the likely value of those assets for the uncertainty of

• when the assets will vest

and

• whether particular assets will vest.