Commentary

I5.1117 The settlor on a variation of a Will or intestacy

IHT, trusts and estates

I5.1117 The settlor on a variation of a Will or intestacy

I5.1117 The settlor on a variation of a Will or intestacy

A beneficiary under the Will or intestacy may, by an instrument in writing, vary or disclaim the disposition of property to him and if this is done within two years of a person's death and the beneficiary makes an election, it will not constitute a disposal for CGT purposes1 — see I4.421.

In such a case, property may become settled property which would not otherwise have done so. Where the variation takes place after 5 April 2006 (irrespective of the date of death), there are rules2 to determine who is

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