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JustAnswerKM
JustAnswerKM, Solicitor
Category: Law
Satisfied Customers: 42
Experience:  Court of Protection, civil litigation, divorce and inheritance
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HiMy father died a year ago and left everything to my mother

Resolved Question:

Hi
My father died a year ago and left everything to my mother but included a nil rate trust band to protect his inheritance allowance. I believe the law changed in October 2007 where he can pass his allowance onto my mother so that when in fact she dies she would get both my late fathers and her own allowance currently 650,000. My mother has now re written her will so that my sister and I are the sole beneficiaries but do we need to get a Deed of Variation for my late fathers will in order for my mother to gain his allowance. We have been advised that we need to set up a trust fund in my fathers name to protect his allowance but everything I have read suggests we just need a deed of variation is this the case?
Submitted: 1 year ago.
Category: Law
Expert:  JustAnswerKM replied 1 year ago.
Good eveningThank you for your message and I will do my best to help.The answer in short is a 'deed of appointment' will be sufficient to appoint the assets of the trust to your mother which then ends your father's trust. This should protect the inheritance allowance because of the 2 nil rate bands.I hope that helps.Best of luck,Kind regards Krystel*Please rate my answer so I can be credited for it.
Customer: replied 1 year ago.
Very helpful thank you
Expert:  JustAnswerKM replied 1 year ago.
You're welcome
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