IHTM35001 - Alterations to the devolution of an estate: introduction

There are many reasons why the beneficiaries of an estate may wish to change the benefits given by will, intestacy or survivorship, such as to

• clarify uncertainty in a poorly drafted will
• take account of the differing fortunes of the beneficiaries
• make good an injustice (perhaps children may wish to give part of their inheritance to provide, or make better provision, for a surviving spouse or civil partner ( IHTM11032))
• take advantage of estate planning opportunities to reduce liability to IHT.

The IHTA84 contains several provisions ( IHTM35002) under which a beneficiary or person entitled may alter the destination of their entitlement from an estate (apart from settled property) in such a way that

• the act by the beneficiary or person is not a transfer of value, but
• it may change the IHT liability on the death or, exceptionally, other event on which the beneficiary became entitled.