Deeds of variation

You can change a person’s will after their death, as long as any beneficiaries left worse off by the changes agree.

If you are a beneficiary of an estate you might want to either disclaim your inheritance, or redirect it to another beneficiary.

You can use a deed of variation to vary your inheritance and help you to achieve your goals and to carry out some advantageous tax planning.

Deed of variation

If you give your inheritance to someone and you do not survive seven years, your gift will be added to your estate to calculate the Inheritance Tax payable on your death.

A deed of variation completed within two years of the death to make the same gift can be much more tax efficient, because the seven year survivorship rule will not be in effect and the gift will consequently not be subject to inheritance tax.

We regularly advise beneficiaries of an inheritance on the benefits of completing a deed of variation. Some benefits include, redirecting an inheritance in favour of the next generation, or to a trust structure for the benefit of the whole family or help charitable organisations.

Choose Furley Page for advice about deeds of variation

Our expertise in advising on wills, succession planning and asset protection has been recognised by The Legal 500 and Chambers HNW – independent guides to the legal profession.

Members of the team belong to the Society of Trust and Estate Practitioners (STEP), a worldwide professional body for practitioners in estates and trusts advice.

Contact Aaron Spencer or Sarah Cladingboel to find out how we can help you.

How can we help you?

How can we help you?