44 thoughts on “Deed of Variation: Your Questions Answered”
My aunt died recently and her Will named my father as a beneficiary, however my father died before her and his share of the Will now goes to my mother. Can my mother make a Deed of Variation for her share of the inheritance to go to her children, even though she is not directly named in the Will?
If your father died before your Aunt and your mother inherited the share he would have inherited has he survived your aunt then she will have been named in the Will otherwise she would not have been entitled to the share he would have received.
Any beneficiary of an estate can vary the terms of a Will or intestacy redirecting the inheritance.
My friend signed a DOV with her brother 12 yrs ago giving a large amount of money to his children who were and still are minors. Her circumstances have since changed and she has since married and made out a will making her new husband the beneficiary. On her death what happens to her estate? Does her will supercede the DOV?
A deed of variation varies the disposition of a deceased’s estate, it is a beneficiaries of the estate who redirects their entitlement elsewhere. Once a deed of variation has been signed it can not be amended and the person redirecting the estate cannot at a later date change their mind.
Your friend’s Will will set out where her estate passes to on her death and is entirely separate to the deed of variation.
I hope this helps clarify matters. If your friend requires any further advice she is welcome to contact us.
I qualify for a discretionary trust for a disabled asset. My dad left me the family home, I am sole beneficiary. The problem is there is not enough money to pay IHT due. If we were to do a deed of velarisation to a discretionary trust for a disabled person would this avoid or reduce the IHT liability? I cannot imagine having to empty and sell The family home of 40 years. I want it to go to charity when I die
Inheritance tax is charged on the assets the deceased owned at the their date of death (there are also other factors to take in to account when assessing the inheritance tax liability).
If the deceased leaves their estate to an exempt beneficiary then that part of the estate is not subject to inheritance. An exempt beneficiary may be a charity or a spouse or civil partner, unfortunately a discretionary trust or a disabled persons trust is not an exempt beneficiary so varying the terms of your late father’s Will in this manner will not affect the inheritance tax position.
You should arrange an appointment with a solicitor to discuss your specific circumstances to see if there is any way to mitigate the liability or structure payment of the inheritance tax.
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My aunt died recently and her Will named my father as a beneficiary, however my father died before her and his share of the Will now goes to my mother. Can my mother make a Deed of Variation for her share of the inheritance to go to her children, even though she is not directly named in the Will?
Thank you for your enquiry.
If your father died before your Aunt and your mother inherited the share he would have inherited has he survived your aunt then she will have been named in the Will otherwise she would not have been entitled to the share he would have received.
Any beneficiary of an estate can vary the terms of a Will or intestacy redirecting the inheritance.
Please contact us for further advice.
My friend signed a DOV with her brother 12 yrs ago giving a large amount of money to his children who were and still are minors. Her circumstances have since changed and she has since married and made out a will making her new husband the beneficiary. On her death what happens to her estate? Does her will supercede the DOV?
Thank you for your enquiry.
A deed of variation varies the disposition of a deceased’s estate, it is a beneficiaries of the estate who redirects their entitlement elsewhere. Once a deed of variation has been signed it can not be amended and the person redirecting the estate cannot at a later date change their mind.
Your friend’s Will will set out where her estate passes to on her death and is entirely separate to the deed of variation.
I hope this helps clarify matters. If your friend requires any further advice she is welcome to contact us.
I qualify for a discretionary trust for a disabled asset. My dad left me the family home, I am sole beneficiary. The problem is there is not enough money to pay IHT due. If we were to do a deed of velarisation to a discretionary trust for a disabled person would this avoid or reduce the IHT liability? I cannot imagine having to empty and sell The family home of 40 years. I want it to go to charity when I die
Thank you for your enquiry.
Inheritance tax is charged on the assets the deceased owned at the their date of death (there are also other factors to take in to account when assessing the inheritance tax liability).
If the deceased leaves their estate to an exempt beneficiary then that part of the estate is not subject to inheritance. An exempt beneficiary may be a charity or a spouse or civil partner, unfortunately a discretionary trust or a disabled persons trust is not an exempt beneficiary so varying the terms of your late father’s Will in this manner will not affect the inheritance tax position.
You should arrange an appointment with a solicitor to discuss your specific circumstances to see if there is any way to mitigate the liability or structure payment of the inheritance tax.