Blogs

Deed of variation for a will



Thu 12 October 2023 Deed of variation for a will

A deed of variation is a legal document that allows beneficiaries of a deceased person's estate to change the way the assets are distributed. This can be done by giving up or transferring their own entitlement to another beneficiary, or by adding someone new to the will. Another term often used for beneficiaries varying  a will after death is a deed of family arrangement.

If you are considering a Deed of Variation for an estate you are involved in, we strongly suggest that you seek independent legal advice, as the implications can be significant. A simple Deed of Variation starts from £400 plus VAT and can be drawn up within a couple of weeks. If you want more information on changing a will after death, contact us today.

Reasons to vary a will post death

There are 4 main reasons in our experience :-

Are there any alternatives?

There are often quite specific reasons, including those we detail above for a deed to be needed. There are other possible alternatives including :-

Legal formalities

To be legally valid the deed of variation must be in place within 2 years of the death and will need to comply with the Inheritance Tax Act 1984 and the Taxation of Chargeable Gains Act 1992. Key points include requirements that :-

 


SHARE THIS ARTICLE  
Legal guidance from solicitors.
Legal 500
Lexcel
Law Society Personal Injury
Modern law awards winner 2023
Law Society Conveyancing Quality
The British Conveyancing Awards - Rebecca Kelly
The British Conveyancing Awards - Mustafa Hassan
ISO 27001
ISO 9001
LEAP Modern Law Conveyancing Awards
Legal 500
Lexcel
Law Society Personal Injury
Modern law awards winner 2023
Law Society Conveyancing Quality
The British Conveyancing Awards - Rebecca Kelly
The British Conveyancing Awards - Mustafa Hassan
ISO 27001
ISO 9001
LEAP Modern Law Conveyancing Awards
We use cookies to provide you with the best possible experience. We share these cookies with Google Analytics to help monitor our performance. Find out more about cookies here. Do you consent?
YES NO