A Deed of Variation is also known as a Deed of Family Arrangement. It is a document by which the beneficiaries of a deceased person’s estate (whether inheriting under a Will or by virtue of the Intestacy Rules) give up their entitlement in favour of other individuals and/or charities. Many people enter into a Deed of Variation not only because they wish to alter the distribution of the estate but also because it can lead to less Inheritance Tax being paid on a deceased person’s estate if certain conditions are met
Administration of Estates
Deeds of Variation
Our solicitors understand that it may be necessary to reallocate property or assets left to a person (the beneficiary) under a Will after the person who made the will has passed away.