Deed of Variation

A Deed of Variation is a legal document that allows beneficiaries of a will or intestacy to rearrange or redistribute their inheritance, often for tax planning, family support, or fairness. It must be completed within two years of the deceased’s death and can offer a valuable opportunity to ensure an estate is distributed in a way that better reflects the wishes or needs of the family. At Stretton Solicitors, we provide clear, expert guidance to help clients navigate this process smoothly, ensuring that all legal requirements are met and that any variations are legally valid and beneficial.

There are many reasons why beneficiaries may choose to vary the terms of an inheritance. In some cases, the will may not reflect changes in family dynamics, such as estranged relationships or grandchildren born after the will was written. In others, a variation may help reduce inheritance tax liabilities or pass assets directly to younger generations. A Deed of Variation can also be used to support charitable giving or to equalise inheritances among siblings or stepchildren. Whatever the motivation, it’s crucial that the document is drafted carefully to ensure it complies with HMRC regulations and does not create legal disputes in the future.

To be valid, a Deed of Variation must be made in writing, signed by all affected beneficiaries, and executed within two years of the deceased’s death. It must also include specific statements if the variation is intended to affect inheritance tax (IHT) or capital gains tax (CGT). Any changes made through a Deed of Variation must be agreed upon voluntarily by all those whose share of the inheritance is affected. Importantly, it cannot be used to alter a will to the detriment of a beneficiary without their full consent. At Stretton Solicitors, we ensure these technical requirements are met, so your variation stands up legally and achieves your intended goals.

Our solicitors understand that this process often takes place during a difficult emotional time. That’s why we provide not only legal expertise but also compassionate, practical support. We’ll review your individual situation and advise on the most effective way to structure the variation, whether your aim is to minimise tax exposure, provide for younger generations, or correct an omission in the original will. We work closely with executors, personal representatives, and family members to make the process as smooth and stress-free as possible.

In some cases, a Deed of Variation can significantly reduce inheritance tax by redirecting assets to exempt beneficiaries, such as spouses or registered charities. This can save thousands of pounds and preserve wealth for future generations. It’s also a flexible estate planning tool, enabling families to respond to changing circumstances that may not have been anticipated when the will was originally drafted. However, the legal and tax implications can be complex — which is why professional advice is essential. At Stretton Solicitors, our team ensures your deed is both compliant and advantageous.

Whether you’re seeking to redistribute an inheritance for tax efficiency, fairness, or family harmony, Stretton Solicitors is here to help. Our experienced team will draft and complete your Deed of Variation with precision and care, ensuring that your wishes — and the memory of your loved one — are respected. Contact us today to arrange a confidential consultation and find out how we can support you through this important legal process.