The following Wills & Probate guidance note provides comprehensive and up to date legal information covering:
For tax purposes registered same-sex couples are treated as spouses.
A legatee may alter the effect of a Will or the intestacy provisions by passing to someone else any property that the operation of a Will or the law of intestacy gives them.
A variation is an inter vivos transfer from a beneficiary of a deceased person. The beneficiary would be treated as making a transfer of value for inheritance tax (IHT) purposes were it not for section 142 Inheritance Tax Act 1984 (IHTA 1984).
Where IHTA 1984, s 142(1) applies:
IHT on the deceased's estate is calculated as if the variation had been effected by the deceased and
the variation is not itself taxable as a transfer of value
For the variation to be effective for IHT, the disposition must alter the destination of property in the deceased's estate.
The variation must be made within two years of the deceased's death.
The subject-matter of the variation must be property in the deceased's estate immediately before their death.
A person's estate is defined in IHTA 1984, s 5.
The definition is modified for the purpose of IHTA 1984, s 142 relief where:
excluded property is included in the deceased's estate
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