We are sometimes consulted by a client who has inherited money from an estate which they would like to pass on to somebody else. This can be a very effective inheritance tax planning tool and can often be used to pass money to the next generation who might need it more than you do.
There are special rules about the form a Deed of Variation takes, and it has to be done within two years of the death of the person from whom you have inherited. Sometimes notice has to be given to H.M. Revenue & Customs that the Deed has been made. We can advise you on all this and prepare the Deed for you.