H has died. On her death her the property she owned passed by survivorship to co-owner.
Co-owner wishes to execute a Deed of Variation to sever the equitable interest and re-direct what would have been H’s half share. I believe that this can be done via DOV and co-owner can benefit from the reading back provisions for IHT and CGT.
My questions are:-
- Can the deed of variation create a life interest/right to occupy trust that does not already exist in H’s Will?
- Can the beneficiary of the DOV and therefore the life interest/right to occupy be someone who is not already mentioned in the Will?
Thank you in advance for your help.
KATE HANDEL
Harrisons Solicitors LLP