Deeds of Variation

Under current tax legislation it is possible for your Will to be varied up to two years after your death if one of your beneficiaries chooses not to accept a gift or legacy contained in your Will. This is often effected for Inheritance Tax planning reasons if the beneficiary wants bequests to benefit their children rather than themselves or if the beneficiary is elderly and concerned about their own Inheritance Tax position. It is prudent for married couples to have their assets relatively equally split to facilitate future inheritance tax planning opportunities.