Template Deed of Variation

Daniel54

I wish to do a very straightforward DoV passing an inheritance to my two adult children

I appreciate that I could do this freehand, but might feel reassured to follow an easy to use template.Likewise I could pay my solicitor to set this up, but it feels like something I should be able to do myself.

By way of additional background, the DoV will not impact the legacies of any of the other beneficiaries.My purpose is to keep the monies outside my future estate, which is already in IHT territory.Total amount involved is £100k,so I don't want to get anything wrong.

I would appreciate any recommendations and/or any feedback from those who have DIY'd a deed of variation

Many thanks in advance.

Gers

Daniel54 said:

I wish to do a very straightforward DoV passing an inheritance to my two adult children

I appreciate that I could do this freehand, but might feel reassured to follow an easy to use template.Likewise I could pay my solicitor to set this up, but it feels like something I should be able to do myself.

By way of additional background, the DoV will not impact the legacies of any of the other beneficiaries.My purpose is to keep the monies outside my future estate, which is already in IHT territory.Total amount involved is £100k,so I don't want to get anything wrong.

I would appreciate any recommendations and/or any feedback from those who have DIY'd a deed of variation

Many thanks in advance.

From https://smithpartnership.co.uk/individuals/deed-of-variation-will

JGB1955

I just wrote a letter - it wasn't witnessed but would probably be best if it was - followed the advice on Change a will after a death - GOV.UK (www.gov.uk) and moved £180K away from my estate in one go.  I've kept the original, with my will, in a fire proof safe at home.

EDIT - there used to be a template letter available, but it seems to have disappeared.  Will check and see if I can replicate it....

polar_pig

The following may be of some help:

https://www.rocketlawyer.com/gb/en/family-and-personal/make-wills-and-trusts/document/deed-of-variation

Kimcrisell

I’m in the same situation, I’m 70 and have just been advised of an inheritance which I simply want to transfer to my 2 children equally, the solicitor dealing with the case wants £500 to draft a simple DOV taking a few minutes…..
if anyone has a template I can copy to cover this I would be very grateful, my only income is a state pension so I have to watch the pennies.
many thanks

RAS

Kimcrisell said:

I’m in the same situation, I’m 70 and have just been advised of an inheritance which I simply want to transfer to my 2 children equally, the solicitor dealing with the case wants £500 to draft a simple DOV taking a few minutes…..
if anyone has a template I can copy to cover this I would be very grateful, my only income is a state pension so I have to watch the pennies.
many thanks

There is a risk that this will be considered deprivation of assets if you need any means tested benefits or care, even non-residential. The LA or DWP would then assess your circumstances as if you still have the money.