Deed of variation questions

[Mnello]

Currently going through probate, but I’ve been advised of an inheritance from a previously estranged family member. I want to divert it to someone else. Theres a line in the will that says it the gift fails it gets diverted to X. I’m assuming under a deed of variation this woukdnt be seen as the gift failing?

Also, i dont want the recipient of the gift to know whose will the money came from. Is this possible?

Whose will are you seeking to vary?

That going through probate or the one of the estranged relative.

The estranged relative has died so their will is going through probate but im a beneficiary. I want to pass on what im being left via deed of variation.

You’ll need a solicitor for a deed of variation.

i am not sure whether you can stay anonymous as when probate is granted the will and other documents will be available on line. I don’t know whether they publish variations but I can’t imagine it being difficult to work out where it’s from.

you could just do a straightforward gift. I would think that would be easier- apps like PayPal could anonymise to an extent? or I suppose a solicitor might redirect the payment somehow?

You don’t need a solicitor for a Deed of Variation. My husband did one when his mother died, passing on some of his inheritance directly to his children.

See advice here.

https://www.gov.uk/alter-a-will-after-a-death

You can simply decline the gift, write to the executor to that effect, this will cause the first to fail and it will pass to X

I think OP wants someone other than X to have it.

Ah, I don't think that can be done then, a deed of variation requires the agreement of all named beneficiaries effected by the change, as X is named they would need to agree it.

I’m not sure that’s correct. I don’t think that varying the will to pass on the gift is the same as the gift failing.

If the OP refused to accept the gift, it would fail and X would presumably get her share. But she is not proposing to refuse it. She is proposing to accept it and pass it on.

But I am not a lawyer so it would be wise to check!

But would it? It wouldnt adversely affect any other beneficiary as they’d be getting no less than if I took the inheritance and kept it.

I would have thought, but stand to be corrected, that as X is a named beneficiary in respect of that gift, albeit not first in line, that they would have to be in agreement as the will specifically names you, and if not you, them.

This is incorrect the other beneficiaries do not need to consent. The only person that must sign is the original beneficiary. The executors are only required to sign if it alters the IHT position. note that the DoV must be completed within 2 years of the death. The solicitor will not be able to pay anonymously to the new beneficiary they will be required to verify their identity first of all. If you do not have your own IHT ‘problem’ then there is not really a need to do it by a Dov and can do a straightforward gift from you to the new beneficiary.

How old is the person that you want to give your share to? If it’s a minor then they need know nothing about it until they’re 18. And then it just becomes ‘some money that I came into a long time ago that I invested in a JISA [or trust or premium bonds whatever] for you’.
Just set and forget.
I’ve been in a similar position and well remember the smug joy I felt as my dd handed over the rather large deposit on her first home courtesy of the old b* who hated us but didn’t have the guts to write me out of his will.