Deed of Variation Solicitors

Are you a beneficiary of a Will looking to redirect your inheritance to another person or trust?  Our skilled Deed of Variation Solicitors at Mounteney Solicitors will guide you through the process with utmost professionalism and sensitivity.

Whether you’re seeking to provide for a newly born child, accommodate changes in family dynamics, or optimise tax implications, we take pride in crafting tailored solutions that balance honouring your loved one’s wishes while meeting your unique circumstances.

A deed of variation allows beneficiaries to address changes in family situations, wishes or financial circumstances not considered or accounted for when the Will was created or in the absence of a Will. The role of our Deed of Variation Solicitors is to assist individuals with inheritance concerns, particularly when the existing Will does not align with their needs or financial strategies.

With over 15 years of experience helping clients make deeds of variation, Mounteney Solicitors has the expertise to navigate even the most complex cases efficiently.

A deed of variation, or a deed of family arrangement, is a formal agreement that enables the beneficiaries of an estate to change how the estate is distributed or redirect their inheritance to someone else.

The financial planning and tax optimisation landscapes are continually evolving, and family circumstances change. With this in mind, a deed of variation is a useful tool for realigning the distribution of an estate to better suit the needs of your family, irrespective of the original terms laid out in the Will or the default rules of intestacy.

The legal foundation for a deed of variation comes from the principle that beneficiaries can dispose of their inheritance as they see fit. Specific tax legislation supports this in the UK, allowing for arrangements with retrospective effect for tax purposes to be made. For the variations to be effective for tax purposes, they should be executed within two years of the deceased’s death and must be completed in writing.

At Mounteney Solicitors our commitment to clear communication ensures you receive straightforward explanations without confusing legalese. With unparalleled advice and services in our field, we deliver unmatched value at competitive rates. Our transparent, fixed-fee pricing means no surprise costs, and our efficient approach prevents unreasonable delays.

There are numerous benefits to a deed of variation, including:

• Tax efficiency: Beneficiaries can achieve a more favourable tax position by redirecting inheritance, which could alter the amount of inheritance tax and capital gains; this is particularly worthwhile when considering the long-term financial help to an estate and its beneficiaries.
• Estate planning flexibility: A deed of variation provides some post-death estate planning flexibility that can be invaluable in adapting to unforeseen changes or ensuring fair and impartial estate distribution benefiting all parties involved.
• Support for charitable causes: Redirecting part of an inheritance to charity aligns with humanitarian values and has associated tax reliefs, enhancing the estate’s tax efficiency.
• Addressing family dynamics: Many families have needs and circumstances that evolve over time. A deed of variation allows for redistributing assets to support members either not considered or inadequately provided for in the original Will.

Our Deed of Variation Solicitors have created a streamlined process to accommodate each client’s unique needs, ensuring we offer clarity and efficiency from start to finish.

The process begins with a consultation to understand your specific situation and aims; this involves gathering all necessary information about the estate and the desired outcome of the deed of variation, setting a solid foundation for the following steps.

With a clear understanding of your objectives, our Deed of Variation Solicitors can draft the document, which is then carefully reviewed with you to ensure it accurately aligns with your expectations and meets all legal standards. We can then make adjustments as necessary to reflect your wishes.

Upon completion of the deed, all necessary parties can execute it. Our expert team facilitates this process, ensuring it complies with legal requirements; at this stage, the deed becomes legally binding, and we assist with implementing new arrangements, including notifying tax authorities if necessary.

At Mounteney Solicitors, we commit ourselves to ensuring a smooth and transparent process for our clients, starting immediately from when our partnership begins. For new clients, our initial steps involve a detailed discussion to agree on the necessary services and associated costs. This foundational phase includes setting up your client record and finalising billing arrangements – for all new clients, we require all payments in advance to secure our services and support.

Once we complete these initial steps, we can draft the deed of variation relatively quickly, often within a few hours, depending on our workflow and schedule. Our skilled Deed of Variation Solicitors aim to efficiently integrate new tasks into our workflow, typically starting work on new projects within a working week of initial engagement.

We know how important your time is and how sensitive these matters can be. Therefore, we strive to ensure the process from initial consultation to executing your deed of variation is as smooth and efficient as possible whilst never compromising on the quality and personalised attention that embody our services.

For the progression of a deed of variation to run smoothly, you must have the correct documents. These include the original Will, indicating the deceased’s final wishes, along with any grant of probate or letters of administration to legitimise the executors’ authority to manage the estate. You will also need the financial records of the estate’s assets and liabilities, as these are critical for understanding the full extent of the estate that needs modifying.

Alongside this, you must obtain consent from all beneficiaries affected by the proposed changes; this is crucial for the deed’s legal validity and assures all parties involved are happy with the alterations. It ensures all beneficiaries agree with the redistribution and prevents future complications and disputes.

Prompt and strategic planning is crucial in securing the full range of tax advantages. For a deed of variation to positively impact inheritance tax and capital gains tax, you must execute it within two years following the deceased’s passing. This timing is essential for beneficiaries aiming to optimise tax benefits associated with the variation.

Your supplier is SRA-regulated Mounteney Solicitors, which charges VAT some customers may be able to claim.

We charge £800 + VAT = £960

There is more about our fees on our website here

If you have any questions or require any further information, please don’t hesitate to contact us

At Mounteney Solicitors, we have years of experience and a deep understanding of the complexities surrounding wills, probate and estate planning. Our dedicated team of estate administration solicitors offer expert guidance, ensuring you manage and distribute your estate according to your wishes and legal requirements.

With a client-focused approach, we provide professional services tailored to each client’s needs. Our Deed of Variation Solicitors remain committed to making the legal process as smooth and stress-free as possible so that you always feel supported.

With conveniently located offices in Heald Green, Bramhall and Cheadle, we serve clients throughout the Stockport and Manchester area including Hazel Grove, Poynton, Wilmslow, Sale and Altrincham . Our local presence allows us to deliver a more personal and accessible service, fostering stronger client relationships.

Call us today for a personal consultation to discuss your needs and how we can assist you. Mounteney Solicitors offers a variety of contact options, including phone, email and in-person meetings at our offices in Heald Green, Bramhall and Cheadle.

Our commitment is to provide tailored estate solutions designed to meet your needs. Contact us today to start the conversation and explore how we can help guide you through the deed of variation process with confidence and ease.