Deeds of Variation: a case study
A deed of variation, if completed within two years of the date of death, can “change the narrative” of a will and/or the distribution of an estate generally to put the beneficiaries in a better position.
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Our Probate solicitors provide practical, tailored advice to families, executors and beneficiaries on the administration of estates after death. This could involve the transfer of assets to future generations or ensuring a family business continues running or is passed to a child or spouse. People’s lives can be complicated and the estates we deal with are often complex, high value and spanning across multiple jurisdictions.
We advise on business, agricultural and heritage property reliefs from inheritance tax and post-death variations, as well as preparing inheritance tax accounts, obtaining grants of probate and negotiating valuations with HMRC. Our team has significant experience in dealing with cross-border succession issues, working with advisers in other jurisdictions to ensure that estates are administered in a coordinated way, obtaining UK grants for foreign people who died owning UK assets, and re-sealing Commonwealth grants and English grants overseas.
Please visit our price & service information page for more information regarding these services.
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DanielPartner - Head of Private Wealth
Talk to Peter about International trusts, tax & estate planning, Probate, UK trusts, tax & estate planning and US/UK Tax & estate planning
Latest content and downloads
Cross-Border Estate Administration: an overview
Estates with cross-border aspects can present various complexities to be navigated. When such issues arise, personal representatives should pause for thought and take advice rather than simply proceeding as they would with a purely UK-centric estate.
Inheritance Act Claims: An overview
If a deceased’s Will fails to make adequate provision for someone who falls within certain categories, the Inheritance Act 1975 may permit them to successfully claim part of the deceased’s estate.
Valuations of Art: An overview
When administering an estate, the deceased’s personal possessions can often present challenges, both in terms of the disagreements among family members over sentimental items and valuing unique works of art or antiques.
Recent experience
Post death variations can help to achieve an outcome for succession and tax purposes which is in the best interests of the family and beneficiaries. We are often instructed by clients to redirect assets they have inherited by will or intestacy. These variations might include increasing individual cash legacies, ensuring that tax exemptions and reliefs are utilised, for example by varying the terms of an intestacy where the deceased was survived by their spouse and children.
Post death variations
Case study
Post death variations can help to achieve an outcome for succession and tax purposes which is in the best interests of the family and beneficiaries. We are often instructed by clients to redirect assets they have inherited by will or intestacy. These variations might include increasing individual cash legacies, ensuring that tax exemptions and reliefs are utilised, for example by varying the terms of an intestacy where the deceased was survived by their spouse and children.
When instructed in relation to the administration of estates with assets in multiple jurisdictions, we not only assist the personal representatives with the probate process in England and Wales but also work with advisers in other jurisdictions to coordinate the cross-jurisdictional estate administration, taking into account foreign succession and tax laws. Where a grant of probate has been obtained in a commonwealth country, an application can be made to reseal the probate document in the UK, which speeds up the process.
Cross-border probate
Case study
When instructed in relation to the administration of estates with assets in multiple jurisdictions, we not only assist the personal representatives with the probate process in England and Wales but also work with advisers in other jurisdictions to coordinate the cross-jurisdictional estate administration, taking into account foreign succession and tax laws. Where a grant of probate has been obtained in a commonwealth country, an application can be made to reseal the probate document in the UK, which speeds up the process.
View our Probate Lawyers:
Partner - Head of Private Wealth
Talk to Peter about International trusts, tax & estate planning & Probate & UK trusts, tax & estate planning & US/UK Tax & estate planning
Partner
Talk to James about Probate & UK trusts, tax & estate planning & Wills & succession planning
Chartered Legal Executive
Talk to Francis about Contentious trusts & probate & Probate
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