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Deed of Variation

A Deed of Variation for single and married persons is designed to deliver advanced estate preservation features. It addresses the common shortfalls faced by clients with inefficient or no Will planning. The solution can redirect the action of a deceased spouse's Will into a suitable trust arrangement in order to deliver flexibility and protection to all (or part of) a residual estate. Beneficiaries must give up their absolute right to inheritance in favour of the trust, but they can be, and often are, discretionary beneficiaries of the trust.

For married couples, the value of Variation is typically limited to the Nil Rate Band allowance. The Deed of Variation trust must be established within two years of the date of death of the spouse.

Benefits of this trust:
  • Inheritance Tax Planning;
  • Protection from care fee exposure for surviving partners and other social impacts;
  • Typically family controlled and trustees may also be beneficiaries.

Inheritance Tax

Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who's died.

Probate Services

Legal procedure followed after death to ensure that your Will is valid, and which gives the executors power to deal with your estate.

Will

A legal document which details a person's wishes for after they have died.

Lasting Power of Attorney - LPA

LPA is a way of giving someone you trust the legal authority to make decisions
on your behalf if you lack mental capacity at some
time in the future or no longer wish to make decisions for yourself.