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A Deed of Variation is a legal document used to change the distribution of a deceased person’s estate after death. It allows beneficiaries to redirect all or part of their inheritance to others or into a trust, often for tax or personal reasons.
Legal Reference:
- Recognised under the Inheritance Tax Act 1984 and Income Tax Act 2007.
- To be effective for tax purposes, the deed must be made within two years of death and meet specific HMRC criteria. It must be signed by all affected beneficiaries.
Sources:
- Wikipedia – https://en.wikipedia.org/wiki/Disclaimer_of_interest
- Wikidata – https://www.wikidata.org/wiki/Q3936126
- Gov.uk – https://www.gov.uk/hmrc-internal-manuals/trusts-settlements-and-estates-manual/tsem1815
- Knowledge Graph – https://www.google.com/search?kgmid=/m/07112q
- DBpedia – http://dbpedia.org/resource/Disclaimer_of_interest
- Product Ontology – http://www.productontology.org/id/Disclaimer_of_interest
