Varying the Disposition of an Estate After Death

The way in which property has been left on death is often unsatisfactory, either because the personal circumstances of family members have changed or because tax legislation has altered.

The introduction of the residence nil rate band in 2017 means that many wills prepared before that date are now unsuitable. However, families are not necessarily stuck with an unsuitable result. Statutory provisions exist which allow the way assets have been left to be redrafted after death to achieve a better result.

Varying the Disposition of an Estate after Death provides invaluable help to those advising clients about the opportunities, implications and pitfalls of varying the disposition of estates using variations and disclaimers. Inheritance tax, capital gains tax, income tax, stamp duty, trusts and their implications are fully considered.

The book explains:

• the alternative provisions available (IHTA 1984, s.142, s.143 and s.144)
• which variation should be selected
• the formalities required
• what can be achieved by each section of the Act, and
• the pitfalls

A full suite of precedents for deeds of variation and related issues is included.