What's a 'Deed of Variation'?

[HexBramble]

I've opened the mail this evening and found a large document from one of the main banks. It has the name of a deceased's relative on it and says it's a "Deed of Variation discretionary settlement" and also what looks like forms to see if my tax code needs to be adjusted.

I have no idea what this is. I was close to the relative that died but assumed that everything had gone to their next of kin. This next of kin became power of attorney when my relative became ill with Alzheimer's.

I don't want to to contact the relative in anyway shape or form since they guarded my relative's estate with insane jealousy and I don't want to draw attention to the fact that something was arranged by my relative prior to them getting ill thus making our relationship worse.

Sorry for the ramble - I have no idea what the document is and all banks are shut til morning!

But no, I don't go round asking random third parties for their tax code without explaining why! Not even for lolz! But I have never been tempted to provide legal or tax advice through a high street bank and they do some pretty odd things IME.

There is an error because the bank isn't a trustee and ploughed on with all this without the mum agreeing to the OP being contacted and is now back tracking.

Had the OP replied with her tax details, who was going to see that information?

Assuming the OP isn't a customer of the bank in question, on what basis is the bank holding her name and address? The OP might for amusement value and the sake of a tenner make a data protection act subject access request on the bank and find out what they've got and where they got it from.

No, the bank has the details because they have the trust deed! We agree that she's most likely a beneficiary and her details will be on that.

We don't agree that it was her inheritance in the first place- hence the deed of variation, or that she can get the trust wound up- because all of the trusts done for these reasons are discretionary with the original beneficiary named as well as their kids. I have three to write before I lunch (MN not helping as you can imagine). It's so common that this makes me guess it's what happened here.

TLDR: the bank has her details for legitimate reasons but didn't have permission from mum as trustee to contact her so are backtracking with this error nonsense.

The only thing i have heard about a deed of variation was after Princess Diana died. Apparently she had keft generous bequests to quite a few people, god-children and so on. Her brother and sister sought a deed a variation to her will to change these bequests from £chunkyfivefigures to 'mementos of the late princess from her personal belongings. ' eg books, small bits of jewellery etc. Thought it was a very mean thing to do as her will was worth many millions. And i think they succeeeded.

I'd bereluctant to make make a giant fuss (inc SAR which rightly or wrongly...wrongly probably will get back to mum) because if aunt left it all to mum and she's set up a deed of variation to benefit the OP eventually then she can almost certainly disinherit her. Which might be worth it if the mum's a proper cow but might not.

Tarty I was a kid when they all happened and not reading many legal journals but I've looked on the font of legal knowledge that is Google and it seems to be the opposite. The only reason it's controversial is that there was some Inheritance Tax planning involved which is a bit when it comes to the royals/ex royals. Not really the done thing.
16 Godchildren inherited though. I cannot imagine having 16 Godchildren.

I think the sensible thing to do would be to get a copy of the will (via the website linked above), OP. If it is as your mother has described it, then you don't need to worry about it any further.