.png)
.png)
Can a will be varied more than once and will a loan from the trust be allowable?
A father died less than two years ago and left a net estate worth about £1m to his sons A B C and D. The estate comprised a house (£800 000) and cash (£200 000). A and B were executors and the estate has been administered but the house has not been sold. Son A executed a deed of variation putting £50 000 into a discretionary trust for himself and his children with B as a co-trustee. It was as if the father’s will had left the £50 000 into the trust and £50 000 to each of B C and D with the residue divisible equally. Son D now wants to buy the house but seems to be caught by the new additional rate of stamp duty land tax (SDLT).
It has been suggested that a deed of variation be executed as though the...
