Will / trust

Skint_yet_Again

Thank you for clarifying @poseidon1 and thanks to @jem16

Is there anything we need to do to specify which share the gift is from or is the deed of variation enough? My share of the house will be about £50k so half would be £25k. I was considering £20k as a lump sum. I may then gift further amounts under gifting rules (up to 3k a year plus 5k on marriage).

@jem16 also mentioned the Scottish system of lodging the deed with the registers of Scotland. Is there anything similar required in England?

jem16

https://forums.moneysavingexpert.com/discussion/comment/81913386#Comment_81913386

This doesn’t apply in the OP’s case as Mum died in 2018 so well outside Deed of Variation time but didn’t we discuss that it was possible to do a Deed of Variation on my mother’s will to remove the Liferent trust set up on her death as it was less than 2 years ago? Too complicated to bother with in my case but possible?

jem16

https://forums.moneysavingexpert.com/discussion/comment/81913404#Comment_81913404

I just looked at my half share of the total estate, minus my mother’s half of the house. Then just decided on the amount I wanted to give to my sons based on that. The Deed of Variation simply mentioned amounts.