If anyone – your financial adviser, solicitor or accountant – has suggested a Deed of Variation you need to do it now – do not leave it.
Reason; they may stop being available for tax planning in the near future.
What is a Deed of Variation? It is a way to re-direct money from an estate by changing the Will within two years of death. It can also be used in the event of someone dying without a valid Will.
A Deed of Variation has long been a way to pass money from grandparents to grandchildren, missing a generation, when the original beneficiaries has intended the grandchildren to inherit anyway and the change avoids it adding to the parents estate value.
If you need more of an explanation ask your adviser or ring Jan now on 01886 822205.