Deed of Variation

A Deed of Variation in the UK is a legal document that allows beneficiaries to:

• Alter the terms of a Will after the testator has died.
• Change the application of the Intestacy Rules if a person dies without leaving a Will.
• Redirect all or some of their inheritance to another person.
• Modify how the estate is distributed without contesting the will.

Who can make a Deed of Variation? 

If you are a beneficiary of a Will left by someone who has now died, you have the right to draw up a Deed of Variation to redirect your inheritance. This can be done either before or after Probate, but it must be within two years of the testator’s death.

Why might you need a Deed of Variation?

There are several reasons why you might want or need a deed of variation:

• To reduce inheritance tax or Capital Gains Tax
• To provide for someone who didn’t inherit
• To transfer assets to a trust
• To remove doubt or uncertainty in the will
• To clear up any ambiguities in the Will
• To balance distribution between the beneficiaries
• To provide for someone who was omitted from the terms of the Will
• To reduce inheritance tax liability
• To redirect your share to anyone you wish, regardless of whether that person has been included in the deceased’s will or is recognised under the rules of intestacy.

Other considerations

A variation must be made within two years of the death of the Testator. It must be in writing and signed by the beneficiary varying the gift. A statement must also be made for inheritance Tax and Capital Gains Tax purposes and included. 

How can Kinherit help

At Kinherit, we have a panel of trusted and regulated firms that we can put you in touch with who offer these services. Each Firm operates differently when it comes to their fees, but these are always discussed with you at the outset before you decide whether you want to proceed.