Deeds of Variation

Sometimes a Will is not as good as it could be – a deed of variation could help.

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When can a Will be amended?

Sometimes the beneficiary under a Will would like to give up some of their entitlement or on occasions all of their entitlement in favour of someone else typically their children.  Rather than make a gift themselves and have to wait 7 years for it to be outside of their estate for tax purposes, the Will could be varied so the gift comes from the deceased instead.  This can be done within 2 years of the date of death. 

What if there is no Will?

Similarly if there is no Will a variation of the intestacy rules can be done.

How is a variation done?

A deed is drawn up to incorporate a Substitute Will when varying a Will or a Notional Will is varying an intestate situation.  Only the beneficiary whose entitlement is being varied and the personal representatives are required to sign.

Are there any exceptions?

You cannot vary the entitlement of a minor beneficiary without a court order and if you wish to give up your share of an estate in favour of a charity, the charity has to consent to the variation.

Probate and estate administration team

For further details of our services, please call a member of our probate and estate administration team on 01543 420000.

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