Deed of Variation

grumpyrawlins

My wife and I are the sole beneficiaries in my sisters will. We have sold her flat and want to distribute the money between family and friends. I understand I have to make a deed of variation. The value is £130k so it falls below inheritance tax. My question is can I write and sign the DOV and file and just file and keep or does it have to be verified by a solicitor? Advice I can find online would seem this is all that has to be done. Rather not pay a solicitor for something unnecessary, and as for websites asking £50 for DOV templates...
Thanks 

xylophone

https://www.gov.uk/alter-a-will-after-a-death

You don’t need a formal document or deed - you can write a letter as long as it meets these conditions.

naedanger

grumpyrawlins said:

My wife and I are the sole beneficiaries in my sisters will. We have sold her flat and want to distribute the money between family and friends. I understand I have to make a deed of variation. The value is £130k so it falls below inheritance tax. My question is can I write and sign the DOV and file and just file and keep or does it have to be verified by a solicitor? Advice I can find online would seem this is all that has to be done. Rather not pay a solicitor for something unnecessary, and as for websites asking £50 for DOV templates...
Thanks 

You don't need anything too formal or a solicitor. See this web link:
https://www.gov.uk/alter-a-will-after-a-death

Also are you or your wife likely to be liable for IHT on your own deaths? (If not then you could just gift your inheritance to family and friends.) 

Keep_pedalling

You don’t have to make a DoV, you could simply gift it, although if you and your wife combined estates falls into IHT territory then a DoV is the way to go.

You don’t need a solicitor to make one the requirements are fairly simple.

https://www.moneymarketing.co.uk/news/deed-of-variation/

BlueJuly

Hello grumpyrawlins, 
I too need a DoV and just found this template http://www.daviessolicitors.co.uk/forms_davies/Estate%20Planning%20&%20Trusts/Deed%20of%20Variation%20(Basic).pdf
I don't know how accurate or relevant it is, but I trust the good people here will advise accordingly.