Post death variations to Wills Solicitors

When someone passes away, their Will might not reflect the current needs of their family or beneficiaries. Fortunately, it’s possible to make changes through a Deed of Variation, even after death. At Fitzhugh Gates Solicitors we can guide you through this process to ensure the estate is distributed fairly and meets everyone’s needs.

What is a Deed of Variation?

A Deed of Variation is a legal document that allows beneficiaries to change the distribution of someone’s estate after their death. People often use it to:

• Ensure the estate better reflects the needs of the family.
• Reduce inheritance tax (IHT) or other financial liabilities.
• Adjust for personal circumstances that weren’t considered when the Will was written.

Who Can Request a Deed of Variation?

Any beneficiary affected by the estate distribution can request a Deed of Variation. However, if the changes impact multiple beneficiaries, everyone involved must agree.

The variation must also be made within two years of the date of death if you want it to qualify for tax benefits.

How Does the Process Work?

The process for creating a Deed of Variation is straightforward but needs careful legal handling to ensure it’s valid. Here’s how it works:

1. Agreement: All affected beneficiaries must agree to the changes.
2. Drafting the Deed: A specialist solicitor drafts the document, outlining the new distribution of the estate.
3. Signing the Deed: All relevant parties sign the Deed of Variation.
4. Filing with HMRC (if required): If the variation affects inheritance or capital gains tax, it’s submitted to HMRC for approval.

Can You Use a Deed of Variation Without a Will?

Yes, even if there’s no Will and the estate is distributed under Intestacy Rules, you can still use a Deed of Variation. Beneficiaries can redirect their inheritance to other family members, charities, or trusts to better reflect the family’s wishes or reduce tax liabilities.

Can a Deed of Variation Help Reduce Inheritance Tax?

Absolutely. One of the main reasons people use a Deed of Variation is to lower the inheritance tax burden. For example:

• Redirecting part of the estate to children or other beneficiaries who might pay less tax.
• Donating a portion of the inheritance to charity, which can lower the estate’s taxable value.

A deed of variation can also be used to change who inherits what, and how. This can help you make the most of available tax reliefs and exemptions such as: 

• Spread large amounts of assets more evenly between beneficiaries 
• Pass your inheritance (some or all of the estate) directly to your children 
• Donate to charity, which is exempt from inheritance tax

This is particularly useful for estates over the IHT threshold of £325,000.

How Much Does a Deed of Variation Cost?

The cost depends on the complexity of the estate and the changes being made. At Fitzhugh Gates Solicitors, we offer transparent pricing and will provide a tailored quote based on your specific circumstances. Most of the time, the tax savings or financial benefits outweigh the legal fees.

For more details on our fees visit the Probate and Estates page.

Why Choose Fitzhugh Gates Solicitors?

We understand that adjusting a loved one’s Will can be an emotional and sensitive process. With our experience in Probate and Estate law, we’ll make sure the process is smooth and stress-free.

• Expertise: Extensive knowledge of Wills, Probate, and tax planning.
• Compassion: A supportive and understanding approach during a difficult time.
• Clarity: Clear advice and guidance every step of the way.

Get in Touch

If you’re considering a Deed of Variation or have questions about the process, we’re here to help. Contact us today to speak with one of our friendly solicitors.