Adult beneficiaries who receive property under a Will or the intestacy rules (if no Will has been left) can do what they like with it.

They can give it away to their children or to charity, or they can swap it amongst themselves.

These arrangements can be put in a legal document called a Deed of Family Arrangement (Deed of Variation).

If they do this, the law will treat the arrangement as having been made by the deceased person even for the purposes of Inheritance Tax and Capital Gains Tax.

Deeds of Family Arrangement can therefore be a important means of Inheritance Tax saving. Post mortem tax planning is alive and well!

These documents are subject to a number of legal conditions and Essex Wills will advise you and prepare such documents.  Telephone us for a fixed quote.