Post-death Variations Of A Will

In certain circumstances, a beneficiary to an estate may decide that they do not wish to inherit. For example:

  • they may already be wealthy and concerned for their own inheritance tax status; inheriting wealth from someone’s estate may compound the problem and affect any succession planning they had been implemented;
  • they may decide to pass wealth onto the next generation as younger generations have a greater need;

In these situations, beneficiaries under a Will or intestacy may vary their entitlement and re-direct it to an individual or organisation of their choice by way of Deed of Variation. From a tax perspective, this is a more efficient approach (as opposed to inheriting and then gifting) as it means the funds bypass the beneficiary’s personal estate altogether for IHT purposes.

Contact us today or fill in our form and we will call you back.

Get in touch

Get in touch with the BTO Personal team. We are here to find the best solutions for you and your family.

Related Posts

Who looks after my children if I die? Pt. 2 – Financial decisions

David White discusses how you could ensure that your children’s financial situation was looked after should anything ever happen to you while they were still young. Last week, we considered ...

Who looks after my children if I die?

Who looks after my children if I die?

Solicitor David White discusses the difficult question some parents might have to face: “Who looks after my children if I die?” and outlines what provisions parents can make to ensure ...

One Year On: BTO Personal During Lockdown

One Year On: BTO Personal During Lockdown

One year on and a lot has happened since we went into lockdown in March 2020. Charlotte Fleming and Lily Morrison take this opportunity to reflect on the changes we ...

Brain Injury Awareness Month – What happens if I lose capacity unexpectedly?

Brain Injury Awareness Month – What happens if I lose capacity unexpectedly?

As America celebrates Brain Injury Awareness Month, the BTO Personal team discusses the implications and legal process involved in the event of a sudden or unexpected loss of capacity and ...