I am familiar with the concept of writing a variation on a will with the agreement of all parties concerned but I wonder it a variation can also be
made in the case of intestacy where for example a surviving parent is due
to receive all of an estate but wishes to share it with others?

Whilst the surviving parent could make gifts to others once the estate was settled that could attract a liability for inheritance tax from the
settlement of their own estate if they then die within 7 years.

--
Peter

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On 31/01/2024 09:28, Peter Walker wrote:

I am familiar with the concept of writing a variation on a will with the agreement of all parties concerned but I wonder it a variation can also be made in the case of intestacy where for example a surviving parent is due
to receive all of an estate but wishes to share it with others?

Possibly. It is a bit specialist though so worth asking the paid advice
of a solicitor who is an expert in Wills and probate. They normally
don't charge for an initial meeting and DoV's are not especially
expensive documents for them to draft and have witnessed for you.

It is important to get it exactly right if it is to do what you want.

Whilst the surviving parent could make gifts to others once the estate was settled that could attract a liability for inheritance tax from the settlement of their own estate if they then die within 7 years.

It is usually done to skip a generation and give money that the parent
doesn't really want or need directly to their children. More important
than ever now that buying a house is out of reach for the next
generation in many areas for all but the most well off.

"Free" advice on the internet may be worth less than you paid for it.

--
Martin Brown

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Martin Brown <'''newspam'''@nonad.co.uk> wrote in news:upd8lp$1fpi1$2@dont-email.me:

On 31/01/2024 09:28, Peter Walker wrote:

I am familiar with the concept of writing a variation on a will with
the agreement of all parties concerned but I wonder it a variation
can also be made in the case of intestacy where for example a
surviving parent is due to receive all of an estate but wishes to
share it with others?

Possibly. It is a bit specialist though so worth asking the paid
advice of a solicitor who is an expert in Wills and probate. They
normally don't charge for an initial meeting and DoV's are not
especially expensive documents for them to draft and have witnessed
for you.

It is important to get it exactly right if it is to do what you want.

Whilst the surviving parent could make gifts to others once the
estate was settled that could attract a liability for inheritance tax
from the settlement of their own estate if they then die within 7
years.

It is usually done to skip a generation and give money that the parent doesn't really want or need directly to their children. More important
than ever now that buying a house is out of reach for the next
generation in many areas for all but the most well off.

"Free" advice on the internet may be worth less than you paid for it.

Thanks for the words of caution Martin, noted and appreciated.

--
Peter

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Simon Parker <simonparkerulm@gmail.com> wrote in news:l1uml7Ffnc3U11@mid.individual.net:

On 31/01/2024 09:28, Peter Walker wrote:

I am familiar with the concept of writing a variation on a will with
the agreement of all parties concerned but I wonder it a variation
can also be made in the case of intestacy where for example a
surviving parent is due to receive all of an estate but wishes to
share it with others?

Whilst the surviving parent could make gifts to others once the
estate was settled that could attract a liability for inheritance tax
from the settlement of their own estate if they then die within 7
years.

One can use a Deed of Variation to change how the estate is divided up
under the rules of intestacy, just as you would with a Will.

Regards

S.P.

Thanks Simon, useful to know.

--
Peter

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