Deed of Variation

Deceased: [Name], died [Date] · Original Beneficiary: [Name] · New Beneficiary: [Name] · Date of This Deed: [Date]

1. Background

Under the [Will of the Deceased dated [Date] / rules of intestacy], [Original Beneficiary Name] is entitled to receive [Description of the inheritance — e.g. a specific gift, or a share of the residuary estate].

2. Variation

[Original Beneficiary Name] elects to vary this entitlement and redirect it to [New Beneficiary Name], as if the Will (or intestacy rules) had provided for this gift to go to [New Beneficiary] directly.

3. Effect for Tax Purposes

The parties intend this variation to take effect, for inheritance tax and capital gains tax purposes, as if made by the Deceased, pursuant to [applicable statute, e.g. Section 142 Inheritance Tax Act 1984 in the UK], provided this Deed is executed within the required time limit.

4. Consent of Other Parties

[If required — e.g. consent of the estate's personal representatives, particularly if the variation affects the amount of inheritance tax payable.]

5. No Consideration

This variation is made without receipt of monetary consideration by [Original Beneficiary], other than the redirection of the gift itself.

Original Beneficiary signature: ______________________ Date: ____________ New Beneficiary signature (if required to accept): ______________________ Date: ____________ Witness: ______________________ Date: ____________

*This document is provided for informational and educational purposes only and does not constitute legal or tax advice. Deeds of variation are recognized primarily in the UK and some Commonwealth jurisdictions, and generally must be executed within a strict time limit after death (commonly two years) to receive the intended tax treatment — missing that window means the variation is still valid as a gift, but loses the favorable "as if made by the deceased" tax treatment.*