Varying a gift received under deed of variation

Trusts Discussion
1

I have a client who received a gift via a deed of variation. He now wishes to pass on that gift to his children by a further deed. Can he do so under S142?

2

I have a correction to the above, The gift was received by a deed of appointment from the residuary discretionary Trust within two years and we are still within the two year period

3

Yes, the client can validly redirect the inheritance by a variation under s.142 IHTA 1984.

Paul Saunders FCIB TEP

Independent Trust Consultant

Providing support and advice to fellow professionals

4

Isn’t this a double variation? IHTM35801

Jack Harper

5

Jack, there was a second post identifying there had been an appointment under s.144 IHTA, and not a variation, so IHTM35081 does not apply.

Paul Saunders FCIB TEP

Independent Trust Consultant

Providing support and advice to fellow professionals

1 Like
6

Apologies. I didn’t see the second post because I invariably respond to emailed contributions rather than on the website.

Jack Harper