Post-death rearrangements
Post-death rearrangements

The following Wills & Probate guidance note provides comprehensive and up to date legal information covering:

  • Post-death rearrangements
  • Precatory trusts
  • Redemption of surviving spouse's/civil partner's life interest
  • Inheritance (Provision for Family and Dependants) Act 1975
  • Two-year discretionary trusts
  • Disclaimers

STOP PRESS:An announcement in Autumn Statement 2015 indicated that the government will not be introducing restrictions on how deeds of variation can be used for tax purposes but will continue to monitor their use. For an overview of these announcements, see News Analysis:Autumn Statement 2015—Lexis®PSL Private Client analysis.

Precatory trusts

Where a testator leaves property under their Will to a legatee with the wish that the legatee transfer the property to another person and within two years of the death the legatee complies with that wish, the transfer by the legatee is treated a post-death variation to which section 143 of the Inheritance Tax Act 1984 (IHTA 1984) applies.

Redemption of surviving spouse's/civil partner's life interest

Where an intestate person is survived by a spouse/civil partner and issue, the spouse is entitled to a life interest in half the residue of the intestate's estate and has a right to receive a capi