deed of variation (of a deceased's estate)

deed of variation (of a deceased's estate)
deed of variation (of a deceased's estate)
England, Wales
A deed (also known as a deed of family arrangement) that enables beneficiaries (beneficiary) of a deceased person's estate to alter the distribution of that estate.
It is possible to vary the terms of a will or, where there is no will, the intestacy rules.
If the deed of variation is executed within two years of death, it can be beneficial for capital gains tax and inheritance tax purposes.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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