Tax Question:

Hi everyone, apologies if my question makes me appear a bit 'wet behind the ears' but is there:

Any means of rewriting the will of a recently deceased person,using a 'Deed of Variation' to create a discretionary trust and escape a large inheritance tax on their estate?

Many thanks for your time, A.

Answer:

You can certainly use a deed of variation to vary the transfer of assets from an estate. However, whether the assets are transferred to the individuals concerned or to a discretionary trust they would still be subject to IHT in the deceased's estate.

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