There could be several reasons why you would want to change a Will after somebody has passed away. You may want to reduce the amount of Inheritance Tax or Capital Gains Tax that needs to be paid, add somebody to the Will who was previously left out of it, or simply clear up any uncertainty when it comes to the deceased person’s wishes.
To change a Will, you need to make what’s known as a ‘deed of variation’.
A deed of variation is a document which lays out any information relevant to changing the Will. It doesn’t need to be an official document; you can write a letter, as long as it contains all of the information that’s needed.
You’ll need to ensure that the variation is dated within two years of the deceased person’s death, as you’re unable to change a Will after this date.
Additionally, you’ll need to confirm that any beneficiaries who’re left worse off by the changes agree that the changes can go ahead.
It’s crucial to ensure that all beneficiaries, and the executors of the Will, are in agreement with the changes. If they aren’t in agreement, this could mean you’re not able to change the Will at all.
If you have any questions, or you’re unsure about the process, it’s a good idea to seek professional advice. Our Will Writers are here to help – so give us a call today!