Wills & Probate
Post Death Variations of an Estate
There are occasions when dealing with an estate where a post death variation is required. There are a number of reasons for this but the
Once you have passed away, your Will can be changed in a number of ways:
- Deed of Variation. This can be made within 2 years of death and any gift or sum passing to a Beneficiary (whether under the Will or by the intestacy rules) can be varied in favour of somebody else. As far as Inheritance Tax is concerned, the gift would not be treated as a gift by the original beneficiary but rather a distribution from the estate of the deceased. This is a useful way of retrospectively saving Inheritance Tax.
- Disclaimer. This is less flexible than a Deed of Variation. Although it can be oral or written, you cannot disclaim a gift in part – it is all or nothing. In addition, you cannot disclaim in favour of somebody else. You simply disclaim and the gift passes either according to the substitute provisions of the Will or according to the intestacy rules.
- Claims under the Inheritance (Provision for Family and Dependents) Act 1975 (see above).
