In England and Wales, there are circumstances which permit a Will to be changed after someone has died.
This is done using a legal process called a Deed of Variation, though the original text of the Will itself cannot be rewritten.
In this article, we will discuss when and how this is done.
When a Will can be changed
To reduce IHT or CGT
If you pass your inherited money straight to your children, it counts as a personal gift. But if you pass away within seven years, that cash could still face heavy inheritance taxes (IHT) through your own estate. A Deed of Variation safely avoids this by changing the original Will so the money flows directly from the deceased person to your children.
Wills can also be changed to mitigate capital gains tax (CGT) if an inherited property or asset increases significantly in value between the date of death and the date it is distributed. A variation redirects the asset to a beneficiary with a lower tax band or unused CGT allowances.
Provide for someone left out of the Will
If a Will is outdated or family dynamics have shifted after the final draft is signed, a Deed of Variation allows beneficiaries to address these omissions by changing the Will.
Redirecting inheritance
Beneficiaries can choose to give up all or part of what they are meant to receive so it goes to someone else.
Move the deceased’s assets into a trust instead of a direct payout
Rather than passing cash or property directly to an individual, a Deed of Variation can direct a beneficiary’s share into a newly created trust.
This might be done if a beneficiary is struggling with addiction, severe debt, or has a mental disability.
Clear up any ambiguity or uncertainty over the Will
If there is vague language or amateur drafting, a Deed of Variation can serve to allow poor descriptions to be fixed and unequal shares to be balanced.
How does it work?
The actual written Will remains the same, but – as the government sets out in its guidance – the distribution of the estate is legally altered.
For cases in which there is no Will (intestate), the same Deed of Variation process can be used, and the law will decide who inherits.
Bennett Smith offers a Deed of Variation service, you can learn more here (https://bennettsmith.co.uk/Wills-probate/).
