deed of variation


deed of variation
A written deed that identifies the specific provisions of a will to be varied. It must be signed by any person who would otherwise have benefited from the will as originally drawn. No payment or inducement must pass between the beneficiaries in order to encourage them to enter into the variation. In order to apply, the deed must have been executed within two years of the testator's death and must have been filed within six months of the deed being executed.

Accounting dictionary. 2014.

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