Deed of variation solicitors after probate
A Deed of Variation, or Family Arrangement, enables the beneficiaries of a deceased’s estate to alter the distribution of that estate and even to distribute the estate to a different beneficiary altogether. This can be prepared and signed up to two years after the date of death.
In most cases, a loved one’s wishes will be executed, and their estate distributed, according to their will. However, in some circumstances, these can be amended using a Deed of Variation. One reason for using a Deed of Variation is to pass Inheritance Tax in the most efficient way and minimise the impact of Capital Gains Tax. A Deed of Variation can also be used to balance disparities in the finances of beneficiaries (ie to grant a higher proportion of entitlement to the sibling with the least wealth). It’s important to note that, while a Deed of Variation does offer a legitimate way to change a will after death, it should not be relied upon as part of an individual’s estate planning. Moreover, a Deed of variation can only be used if everyone adversely affected agrees and there is no reciprocation; that is, no one is compensated for what they give up.
If you are the beneficiary of an estate and would like to learn more about Deeds of Variation, book a consultation with one of our Probate solicitors. They offer expert advice tailored to your circumstances and help you plan your next steps.
Call Our Probate Team Today
Our friendly and experienced probate team will guide you through every stage.
Request a Call Back
"*" indicates required fields