I wonder if anyone can help please.
An executor/ sole beneficiary prepared a Deed of Variation, which simply added in a legacy of a set amount to a friend of the deceased.
However, after the Deed was signed, it has come to light that the ‘new’ legatee died before the Deed of Variation was signed, but after the testator’s death.
Does the Deed need to be followed/remain valid please?
It should be remembered that deeds of variation are a fiction and are only effective for IHT and CGT purposes, if the appropriate elections are made. Consequently, the gift in the deed is not being made by the deceased testator, but by the beneficiary of the estate. In my opinion, therefore as the intended donee was already dead when the deed was executed, the gift is not effective as to my knowledge you cannot make a gift to someone who is not alive.
Patrick Moroney