I am acting on the administration of estates of both husband and wife.
H and W both died intestate leaving three children. W died first leaving an estate in excess of NRB. H died 6 weeks later, again leaving an estate in excess of NRB.
Can a Deed of Variation (with Notional Will) be created to enable the children to re-direct their entitlement to W’s estate to H and claim spouse exemption? This would mitigate against an IHT payment on W’s estate and also enable the PRs to transfer the unused NRB to H’s estate.
I have read comments on similar cases and they suggest that a variation cannot favour a deceased beneficiary…?
Any thoughts would be appreciated.