A Deed of Variation, also known as Instrument of Variation or Deed of Family Arrangement, is a legal document that allows the alteration of the distribution of a deceased person's estate after their death. This crucial document can help avoid conflicts and ensure the distribution aligns with the beneficiaries' current wishes.
Why You Need a Deed of Variation
A Deed of Variation is beneficial to manage unexpected or unwanted inheritances, reduce inheritance tax liabilities, or to rectify errors in the original will. Not having one can result in undesired distribution of assets and potential legal disputes.
What's Included in a Deed of Variation Template? Details of the parties involved Description of the original will Detailed explanation of the changes to be made Signature clause Is It Legally Valid in Every jurisdiction?
While the Deed of Variation is widely recognized, its legal validity can vary in each jurisdiction. Therefore, it is advisable to seek legal counsel in your specific location to ensure compliance. Customize Your Deed of Variation Form Now Don't waste time drafting from scratch. Get your customizable Deed of Variation Template from Wansom.ai and ensure a smooth, legally-sound process.