A Deed of Variation lets you give assets you've inherited to another person, or organisation, often reducing your tax bill.
If you’ve inherited money, property or other assets or belongings under a Will or the rules of intestacy, you can use a deed of variation to give some or all of that inheritance to another person or organisation. It's your choice, and it can be someone who wasn't mentioned in the Will.
Deeds of variation are particularly useful if you want to manage your own estate and any potential liability for inheritance tax. However, there are a number rules attached to them, particularly on when you need to sign them and who else might need to sign. Our experienced Wills and probate team can guide you through the process smoothly. We'll advise on what you can and can't do, and the most efficient solution for you.
A deed of variation can be just one part of a complex tax planning arrangement – we’ll help you find its right place in the bigger scheme, working in harmony with your other plans. Among the sort of issues we can look at for the deed of variation and the wider implications are:
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