Deed of Variation

If you inherit funds that you do not need, one of the main impacts can be to increase your inheritance tax bill. With professional advice, you can avoid this issue by drawing up a formal deed of variation, which directs that the inheritance should pass to someone else or to a trust.
  
A deed of variation is particularly valuable for successful people whose children are starting out on their own lives – arranging for unwanted inheritance to pass directly to the next generation could be an ideal way to fund the deposit on their first home.

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