A deed of variation is a means of redirecting an inheritance so that an oversight can be amended; it is not a tax evasion tool

The 2015 budget contained an interesting announcement for private client practitioners; a review of the use of deeds of variation. No further details were given and so we must await the outcome of the review, expected to arrive in autumn.

Following someone's death, there are two ways to refuse an inheritance; either by deed of variation or by disclaimer. A disclaimer is unsatisfactory in that it only lets you disclaim the gift and gives you no power over who gets it in your place, and so a deed of variation becomes the best way of redirecting an inheritance.

A deed of variation is simply a means of varying either the terms of a will o...

Jean Yves

IICJ

This article is part of a subscription-based access, to continue reading, please contact your library