Deeds of Variation – what & why?
A Deed of Variation allows those inheriting after someone has died (the beneficiaries) to change the distribution of the deceased’s estate (their belongings and money). Such a Deed can be completed whether someone dies with a Will (testate) or without a Will (intestate). The Deed must be completed within two years of the date of death.
This is not an absolute power for one person to dictate who will receive which portions of the deceased’s estate after someone has died. The beneficiaries who are worse off due to changes to their inheritance must agree to these changes.
A Deed of Variation can be used for a variety of benefits such as saving on Inheritance Tax or to provide for someone who would not otherwise inherit under the Will or rules of intestacy.
If you are concerned that an Estate might not be distributed appropriately, or that someone has been forgotten in a Will, please get in touch with our Probate Team.
Director & Solicitor