Can you change your Will after someone dies?

Yes, it is possible to make changes to a Will after someone has died, provided that all beneficiaries who would be negatively affected by the changes agree to them. This process can be carried out whether or not there is an existing Will. If there was no Will, the law determines the inheritance, but changes can still be made in the same way.

It is important to note that any changes to a Will must be completed within two years of the person’s death. Changes might be made to reduce Inheritance or Capital Gains Tax, provide for someone who was left out, move assets into a trust, or clarify any uncertainties in the Will.

To make a change, you need to create a 'variation.' This does not require a formal document, a letter can be enough as long as it meets certain conditions. If the variation leads to an increase in Inheritance Tax, a copy must be sent to HM Revenue and Customs (HMRC) within six months. If the change does not affect the amount of tax due, there is no need to notify HMRC. It is important that you speak with a professional about this.

There are several reasons why you might consider changing a Will after someone’s death. One common reason is that you may not need your entire share of the inheritance and would prefer for it to benefit someone else, such as a family member or a charity.?

The Will might not account for children or grandchildren born after it was created, so adjustments may be needed to include them.?

In some cases, families may choose to redistribute the inheritance to ensure all beneficiaries are treated more equally, especially if one person is left with a smaller portion. Finally, there might be a more tax-efficient way to distribute the estate, which could be a significant consideration. While these are some of the main reasons, every situation is unique, and the reasons for making changes will vary depending on the specific circumstances of the family involved.

What is a deed of variation?

A deed of variation is a legal document that allows you to adjust the distribution of an estate after someone has passed away, even though you cannot alter the original Will itself.?

This document, also known as a deed of family arrangement or deed of disclaimer, provides flexibility to adapt the inheritance to current circumstances. It specifies how you wish to modify your portion of the estate. However, you can only change your own share, and if the adjustments affect other beneficiaries, their consent is required. Additionally, other parties such as executors or charities involved in the estate may also need to be consulted.

How Can GloverPriest Help?

At GloverPriest, we provide friendly and transparent Wills and probate advice. If you would like further help on your Will, please don’t hesitate to speak to one of our expert probate lawyers today. Complete our enquiry form.?