Deed of Variation

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Deed of Variation

What is a Deed of Variation?

A deed of variation is a way in which someone’s Will, or the intestacy rules (if applicable) is changed after they have passed away. The beneficiaries affected by the change have to agree to it.

The effect is that the terms of the Deed of Variation are written back into the Will, as though the gifts had been made by the deceased. This is effective for inheritance and capital gains tax and consequently can be a good estate planning tool.

For example, if a child (whose estate is already large and will be subject to inheritance tax when they die) has received an inheritance from their parent, whose estate was not taxable for inheritance tax, a Deed of Variation can be used to bypass the child, as though the testator had left money to, for example, a grandchild instead. If the child were to take the gift and then pass to the grandchild of the deceased, this would be subject to the rules for lifetime gifting and they would need to survive seven years from the day the gift was made for it to fall outside their estate completely. By using a Deed of Variation, there will be no tax consequences for the child of the deceased.

How is it done?

The variation must be in writing and at Grant Saw, we would prepare a formal deed for you. The variation must be signed within 2 years of death of the deceased to be effective for tax purposes.

How does the process work?

You are invited to a meeting to discuss your wishes which we can conduct via video conferencing. We are equally happy to discuss matters over the telephone or by email. Alternatively, we can meet at our office or your home if that is more convenient for you.

We shall draft the trust deed in accordance with your requirements and send it to you with a full letter of advice. Once you are happy, it can be prepared ready for signature and the settlor and trustees will need to sign it. We are able to store trust deeds in our firm’s storage facility for safekeeping, which we do at no extra cost and we will also provide a signed photocopy for your own records.

How long is the legal process?

We normally aim to send a draft Deed to you within a fortnight of our initial meeting but if there is particular urgency, we can prepare the document more quickly.

Is it expensive?

We are usually able to provide a fixed fee service for the drafting of Wills. Please call or email privateclient@grantsaw.co.uk for a quotation.

What are the things people should consider before calling?

You should consider the following:

  • Who they would like to appoint as their executors. That is the person(s) appointed to ensure that the terms of their Will are followed. Many of our clients nominate this firm to act in this capacity.
  • The appointment of guardians of their children (if there are any children who are under 18 at the time of their death).
  • Those persons they would like to benefit under the Will.
  • Any gifts of specific items or money they would like to leave.
  • It would also be helpful if you could provide us with a rough estimate of the value of their assets so that we can provide you with any relevant inheritance tax advice.

Why are Grant Saw the best people for the job?

We are the largest private client department in the local area and have a number of dedicated specialists in the team. As a department, we pride ourselves on providing excellent client service, with a friendly and approachable manner and we are frequently instructed by new clients based on recommendations received from our existing clients. We also hold the Law society accreditation for excellence in Wills and Probate, known as WIQS (Wills and Inheritance Quality Scheme), as well as having members of Solicitors for the Elderly and STEP in the team. These are all demonstrative of the expertise and dedication our lawyers have in making sure our clients receive the best advice possible.

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Meet the Private Client team
Ray Crudgington
Managing Partner
Managing Partner
greenwich
02083054224
ray.crudgington@grantsaw.co.uk
Maria Lati
Maria Lati
Partner
Partner and Head of Residential Property
blackheath
02083054229
maria.lati@grantsaw.co.uk
Mike Clary
Family
Partner and Head of Family
greenwich
02083054237
mike.clary@grantsaw.co.uk
Kalpa Prajapati
Partner
Partner and Head of Private Client
blackheath
02083053536
kalpa.prajapati@grantsaw.co.uk
Mario Savvides
Commercial Property
Partner and Head of Commercial Property
greenwich
02083053531
mario.savvides@grantsaw.co.uk
Sarah-Kate Jackson
Litigation
Partner and Head of Litigation
greenwich
02083054236
sarah-kate.jackson@grantsaw.co.uk
Adina-Leigh Collins
Litigation
Solicitor
greenwich
02083053556
adina-leigh.collins@grantsaw.co.uk
Aimal Gram
Commercial Property
Solicitor
greenwich
02083053524
aimal.gram@grantsaw.co.uk
Aisha Mohammed
Aisha Mohammed
Residential Property
Professional Support Lawyer
greenwich
02083054228
aisha.mohammed@grantsaw.co.uk
An Le Tran
Commercial Property
Professional Support Solicitor
greenwich
02083054226
anle.tran@grantsaw.co.uk
Ana-Maria Badeanu
Ana-Maria Badeanu
Corporate and Commercial
Solicitor
greenwich
02083053539
ana-maria.badeanu@grantsaw.co.uk
Angela Shaw
Angela Shaw
Private Client
Solicitor
blackheath
02083054234
angela.shaw@grantsaw.co.uk
Angus Young
Litigation
Solicitor
greenwich
02083054225
angus.young@grantsaw.co.uk
Atifha Aftab
Atifha Aftab
Family
Solicitor
greenwich
02083054238
atifha.aftab@grantsaw.co.uk
Bimal Kotecha
Litigation
Solicitor
greenwich
02083053523
bimal.kotecha@grantsaw.co.uk
Charlotte Warren
Charlotte Warren
Private Client
Solicitor
blackheath
02083054231
charlotte.warren@grantsaw.co.uk
Claire Mac Mahon
Litigation
Solicitor
greenwich
02083053537
claire.macmahon@grantsaw.co.uk
Deborah Taite
Residential Property
Solicitor
blackheath
02083053542
deborah.taite@grantsaw.co.uk
Emily Pearce
Residential Property
Solicitor
greenwich
02083053526
emily.pearce@grantsaw.co.uk
Georgia Beales
Litigation
Paralegal
greenwich
02083054206
georgia.beales@grantsaw.co.uk
Jeremy Brooks
Jeremy Brooks
Private Client
Solicitor
blackheath
02083053534
jeremy.brooks@grantsaw.co.uk
Joanna Godden
Notary Public
Notary
greenwich
02083083627
joanna.godden@grantsaw.co.uk
Lauren Smith
Employment
Paralegal
greenwich
02083053543
lauren.smith@grantsaw.co.uk
Mandeep Clair
Family
Solicitor
greenwich
02083054235
mandeep.clair@grantsaw.co.uk
Michael Pope
Corporate and Commercial
Solicitor
greenwich
02083053540
michael.pope@grantsaw.co.uk
Michelle Pinnington
Michelle Pinnington
Residential Property
Solicitor
blackheath
02083054216
michelle.pinnington@grantsaw.co.uk
Noella Gooden
Noella Gooden
Employment
Solicitor (Australian qualified)
greenwich
02083053543
noella.gooden@grantsaw.co.uk
Raj Waghela
Raj Waghela
Residential Property
Solicitor
greenwich
02083053529
raj.waghela@grantsaw.co.uk
Randeep Thethy
Randeep Thethy
Residential Property
Solicitor
greenwich
02083054209
randeep.thethy@grantsaw.co.uk
Sarah Hogan
Sarah Hogan
Residential Property
Solicitor
blackheath
02083054214
sarah.hogan@grantsaw.co.uk
Simona Morina
Simona Morina
Litigation
Solicitor
greenwich
02083053521
simona.morina@grantsaw.co.uk
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Simone Gavioli
Litigation
Solicitor
greenwich
02083053548
simone.gavioli@grantsaw.co.uk
Susan Collins
Commercial Property
Solicitor
greenwich
02083054200
susan.collins@grantsaw.co.uk
Tatiana Zenina
Tatiana Zenina
Private Client
Solicitor
blackheath
02083054239
tatiana.zenina@grantsaw.co.uk
Trisha Djemal
Trisha Djemal
Residential Property
Consultant Solicitor
blackheath
02083053546
trisha.djemal@grantsaw.co.uk
Tyrone Grant
Residential Property
Head of Leasehold Enfranchisement
blackheath
02083053522
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Accounts Staff
greenwich
02088586971
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greenwich
02083054233
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greenwich
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greenwich
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Michael Tobin
Support Staff
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greenwich
02083053550
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greenwich
02083054222
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Support Staff
Customer Services
greenwich
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