Technical advice
D » Deed of Variation (DOV)
A legal document, normally drawn up with professional advice, which binds the signatories (those affected by the changes eg Beneficiaries) to post death changes to the Will for the purposes of either correcting mistakes in the Will or changes to gifts made in the Will, for the purpose of saving Inheritance Tax.
A Deed of Variation is effective for tax saving purposes if drawn up within two years of the date of death. The tax and other implications are complicated and should only be contemplated after taking specialist professional advice.