AI Generated Deed of Variation for use in the United Kingdom
PDF & Word - 2026 Updated

This Deed of Variation is made on 15 October 2024.

(1) Jane Doe of 456 Elm Street, London, SW1A 1AA acting in her capacity as the Executor of the Estate of the Testator and as a beneficiary (the "Executor");

(2) Alice Doe of 789 Oak Avenue, Manchester, M1 1BB (an original beneficiary under the Will);

(3) Bob Doe of 101 Pine Road, Birmingham, B1 1CC (an original beneficiary under the Will);

(4) John Smith of 234 Maple Lane, Bristol, BS1 1DD (a beneficiary affected by the variation); and

(5) The representatives of the Estate of the Testator, being Jane Doe (as Executor) and any appointed Trustee where relevant.

Each of the above parties (together the "Parties") is a signatory to this Deed.

In this Deed the following terms shall have the meanings set out below:

References to clauses are to clauses of the Will unless otherwise stated. Headings are for convenience only and do not affect interpretation. This Deed is executed as a deed.

The Testator died on 1 October 2023.

The Will has been admitted to probate.

The original beneficiaries under the Will included the Testator's children Alice Doe and Bob Doe, and other beneficiaries including John Smith.

The Parties have agreed to vary the Will in the manner set out in this Deed.

This Deed is made pursuant to Section 142 of the Inheritance Tax Act 1984 (IHTA 1984) and Section 62 of the Taxation of Chargeable Gains Act 1992 (TCGA 1992) and is intended to be treated for tax purposes as if the variations had been effected by the Testator.

The Parties confirm that all necessary parties consent to this variation.

This variation is made within two years of the date of death of the Testator.

The Parties agree that this Deed is made pursuant to Section 142 IHTA 1984 and that the variations set out below shall take effect as if the varied provisions had been made by the Testator.

With effect from the date of the Testator's death the Will shall be varied such that Clause 4 is deleted and replaced with the following new clause: "I give the whole of my Estate to my spouse Jane Doe absolutely."

Clause 5 of the Will shall be amended so that the beneficiary of the property at 123 High Street shall be changed from John Smith to Jane Doe.

Any income or interest accrued on the assets of the Estate since the date of death shall follow the destination of the capital as varied by this Deed.

The Parties shall make and submit a written election to HMRC under Section 142(2) IHTA 1984 within 6 months of the date of this Deed.

A copy of the election shall be provided to all Parties within 7 days of submission to HMRC.

The Parties confirm that all terms of the Will not expressly varied by this Deed shall remain in full force and effect.

No consideration is passing between the living parties for the variation. The Parties enter into this Deed without any monetary or other consideration passing between them in order to avoid any unintended capital gains tax or stamp duty consequences.

Each Party represents and warrants that it has the full authority to enter into this Deed.

Each Party represents and warrants that entering into this Deed does not conflict with any of its existing obligations or agreements.

Each Party represents and warrants that this Deed complies with all applicable laws and regulations.

The Parties confirm that there are no pending legal proceedings that could affect this Deed.

The Parties confirm that they are not aware of any other prior variations or amendments to the Will besides those addressed in this Deed.

The Parties confirm that they have obtained independent tax advice regarding the potential adverse tax consequences of this variation.

Each Party confirms that they have taken independent legal advice or have had the opportunity to do so and enter into this Deed voluntarily.

In this clause the "Variation Beneficiary" means Jane Doe, the "Executor" means Jane Doe acting as executor of the Estate and the "Trustee" means any trustee of the Estate or any trust arising under the Will.

The Variation Beneficiary, the Executor and the Trustee shall indemnify the other Parties against any liability for Inheritance Tax, Capital Gains Tax, interest, penalties or other tax charges arising as a result of this Deed.

In the event of any tax claim the indemnifying parties shall be notified immediately and shall cooperate fully in the defence or settlement of such claim.

The Estate shall be responsible for all costs and expenses incurred in connection with the preparation and execution of this Deed including solicitor's fees printing costs and witnessing fees.

If any provision of this Deed is held to be invalid or unenforceable the remaining provisions shall continue in full force and effect.

This Deed may be executed in any number of counterparts each of which when executed and delivered shall constitute an original but all the counterparts shall together constitute one and the same instrument.

The Parties agree that counterparts may be delivered by electronic means including by email or secure portal and that electronic signatures shall be permitted.