We can help with a Deed of Variation and using our expert knowledge ensure that it is drafted up in the correct way.
What is a Deed of Variation?
When someone dies often they may have left a Will setting out how they wish their estate to be distributed. In the absence of a Will the estate will be distributed according to the Rules of Intestacy. A Deed of Variation can be drafted to change the distribution of the estate, but please be aware it usually has to be made within 2 years of the date of death.
There can be many reasons for using a Deed of Variation, which can include
- to reduce the tax liability of the estate or of a beneficiary,
- to redistribute the assets according to all the beneficiaries’ wishes, or
- to settle a dispute, or potential dispute, over the estate or Will or
- you may want to make a gift to charity or to pass on property to the next generation.
Whatever your circumstances we can advise you and draft the Deed to ensure you achieve what you want.