Deed of Variation

Under s.142(1) IHTA a deed of variation can be executed by a beneficiary to rearrange the distribution of the deceased testator (T’s) estate by varying or redirecting his entitlement, with the effect that the altered gifts are automatically read-back into the will as having been made by T.

For planiing using a DOV see paragraph 10.9 (Tools for constructing a tax-efficient settlement) of my book the ‘Contentious Probate Handbook’ published by the Law Society in 2016.