Island Life Magazine Ltd August/September 2016 | Page 125
Legal
Can my Will be changed
after death?
By Terence Willey of Terence Willey & Co
Most people would probably say
an unreservedly “No”. However, it is
perfectly permissible and possible
subject to certain conditions to do just
that and by a Deed of Variation.
Before I discuss the conditions upon which a
Deed could be considered let us first examine the
circumstances on which such would be possible and
relevant to the Administration of an Estate.
For many years now I have written various articles on
Wills and the necessity to review them fairly regularly
during your lifetime. I have always considered that
this should be undertaken every three to five years
and such an article is always somewhat sensitive as it
can give the impression that the ‘writer’ is seeking to
muster up business! However, quite to the contrary,
it is very prudent and indeed wise to look at your Will
at least every three years and consider the prevailing
family circumstances which may have changed.
For instance; should further children be born since
your last Will, a divorce having taken place or even if
you have become estranged from a member of the
family or friend who was previously benefiting under
your Will? All these circumstances may require you
to generally think again about the contents of your
Will to ensure that upon your death it is relevant
and appropriate to your wishes. I have had many
experiences in the Administration of Estates where
Wills have not been updated over the years to take into
account changing circumstances and which has led to
families falling out and sometimes even litigation.
A variation to a Will can only take place under strict
circumstances; it must be duly completed and by
Deed, within two years from the date of death and
can only be undertaken with the express consent of
the Executors to the Will and in good practice after
full and proper consultation and consent of all the
Residuary Beneficiaries in the Will.
Once this is agreed then the document has to be
executed by all the relevant parties and within the
time limit and then properly recorded (registered in
the Probate Registry) and then lawfully applied in the
Administration of the Estate of the deceased.
Due caution must be exercised by the Executors
in considering any variations to a Will particularly in
instances where such variations may adversely affect
beneficiaries. I have experienced circumstances where
such aggrieved individuals have brought their own
claim against the Executors in the Will. It is therefore
fundamental that the Executors first fully consult and
secure the consent and agreement in writing of all
those individuals likely to be affected by such variation.
The vast majority of Variation Deeds that I have
dealt with over the years are in respect of adding
an additional child to share in the residue of an
Estate and generally taking into account additional
family members or friends whom all the Residuary
Beneficiaries are comfortable to have their
entitlement reduced as a result.
In addition to the above there may be specific future
Tax and Revenue issues of which such a variation may
be appropriate and necessary. However, again caution
should be exercised to ensure that such variation is
lawful and not considered as an evasion of Tax of
which the Revenue may pursue a claim on the Estate.
In most cases had a Will been regularly viewed and
updated then such a variation and the costs of such
would not be necessary.
Contact Terence Willey on 01983 875859, or Mark
Willey on 01983 611888. www.terencewilley.co.uk
www.visitilife.com
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