Deed of variation

GenX0212

Hi,

We want to make a Deed of Variation to the Will in order to gift a sum of money from the residuary estate to a family member not named in the original Will.
There will be no change to IHT or CGT position and both existing beneficiaries are happy to make the change.
I have read https://www.gov.uk/alter-a-will-after-a-death and the IOV2 checklist and have drafted a short letter (with the help of AI).

Two/Three questions:
Q1
      a) Is it strictly necessary to have the Deed witnessed (IOV2 only states that the variation is signed by all the people whose entitlement is adversely affected).
      b) If yes is there a problem with the spouses of the existing beneficiaries doing it? Both beneficiaries are agreeing to reduce their own inheritance so I can't really see where there could be any conflict of interests.

Q2 Is a 'wet' signature necessary or is a photocopy/scan ok. One of the beneficiaries is currently based abroad so looking to make things easier.

There is no need to send to HMRC or anyone else so this is really just an admin exercise as part of closing out the will and making sure records are tidy.

thanks.

Linton

The main purpose of the DoV is to prevent people coming back later and claiming they were short changed. So for that purpose it would be important that the disadvantaged beneficiaries did sign the document themselves and were seen to do so by independent witnesses.

Savvy_Sue

Linton said:

The main purpose of the DoV is to prevent people coming back later and claiming they were short changed. So for that purpose it would be important that the disadvantaged beneficiaries did sign the document themselves and were seen to do so by independent witnesses.

GenX0212 said:

Q2 Is a 'wet' signature necessary or is a photocopy/scan ok. One of the beneficiaries is currently based abroad so looking to make things easier.

 if I'm wrong, someone will say, but I can't think of any reason why you should not prepare TWO separate deeds, one for each disadvantaged beneficiary, and they can therefore be signed in different places, at different times, with different - and as suggested independent - witnesses. 

Having played the game of "how fast can we get this piece of paper signed by five siblings around the country and back to the solicitor" in a different situation, I wouldn't rush to do it again, especially not if sending it overseas was necessary. 

Keep_pedalling

Savvy_Sue said:

Linton said:

The main purpose of the DoV is to prevent people coming back later and claiming they were short changed. So for that purpose it would be important that the disadvantaged beneficiaries did sign the document themselves and were seen to do so by independent witnesses.

GenX0212 said:

Q2 Is a 'wet' signature necessary or is a photocopy/scan ok. One of the beneficiaries is currently based abroad so looking to make things easier.

 if I'm wrong, someone will say, but I can't think of any reason why you should not prepare TWO separate deeds, one for each disadvantaged beneficiary, and they can therefore be signed in different places, at different times, with different - and as suggested independent - witnesses. 

Having played the game of "how fast can we get this piece of paper signed by five siblings around the country and back to the solicitor" in a different situation, I wouldn't rush to do it again, especially not if sending it overseas was necessary. 

You are not wrong this could be done with two DoVs. One for the person living abroad may not even be necessary if they live permanently in a country with no inheritance tax, they can simply iguft the money instead. 

RAS

If I was the executor, I'd want copies of the deeds even if the original stayed with the beneficiaries.