A Deed of Variation, also known as a Deed of Family Arrangement, is a legal document that allows beneficiaries to alter the distribution of an estate left to them in someone’s Will.  This can lead to a more tax-efficient distribution as it allows them to redirect assets to other family members or even charities.
To be valid for tax planning purposes, a Deed of Variation must be executed within two years from the date of your loved one’s passing. However, it is advisable to begin your enquiries as soon as possible to ensure a smooth and timely implementation.