Deed of Variation
A Deed of Variation can also be referred to as an Instrument of Variation, a Family Arrangement, a Deed of Surrender, or a Deed of Assignment.
A Deed of Variation changes a Will after death and enables the beneficiaries of a deceasedís estate to alter the distribution of that estate, or relinquish a bequest from an estate, by changing the deceasedís Will.
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Why execute a Deed of Variation?
There are many reasons why it may be desirable to amend the will of a deceased, or indeed Intestacy but they are suually used to ensure thatthe estate passes on in the most Tax efficient way or to a beneficiary that was omitted from the Will.