Deed o Variation

Beneficiary wishes to pass part of his share to his children. This does not affect IHT and as such the executors do not need to sign. Is it necessary for the children to sign. I would usually join them in but they are overseas and may be difficult .

No, it’s not essential, and no doubt will be (further) evidenced by the actual share passing to the children.

No, there is no need for those persons receiving benefit under the variation to be party to it.

Having said that, if any of the intended beneficiaries of the variation is a charitable entity, consideration might be given to such entity being a party to the deed so as to evidence compliance with s.142(3A) IHTA 1984.

Paul Saunders FCIB TEP

Independent Trust Consultant

Providing support and advice to fellow professionals