Deed of Variation
Although taxes are one of life’s certainties, the amount payable is not.
Our clients had drafted similar wills leaving their Inheritance tax allowance (IHT nil rate band) on trust for their family not each other. Since then the law had changed but they lacked mental capacity to change their wills.
Wills can be amended with consent of all affected beneficiaries up to two years after the will writer’s death.
£130,000 Inheritance Tax saving
National Trust Property
Lease extensions vary vastly. Some leases are virtual freeholds at 999 years others just an additional 99 years.
The cost of obtaining them covers a broad spectrum too. National Trust properties have their own particular rules and regulations.
So an extension was available but not the purchase of the freehold because it is trust property.
The lease was granted and increased the value of their home.
An extension of 50 years was granted with only a nominal payment for the extension. Our clients were more secure and could undertake further improvements to enhance the property.
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