I have inherited a proportion of my late mother's estate. Neither I nor my husband need the money. I wish to write Deed/ letter of variation so that each of my 2 children can receive an amount, not a share.
How do I insert the amount in money rather than a share of the estate into the letter of variation?
In 6 months time I would like to repeat the deed/letter of variation for an additional amount (there is a good reason for the 2 different times of transfer).
This would be all within the 2yrs of my mother's passing.
The amount I would transfer to my children is less than the full amount I have inherited.
The checklist on the HMRC website suggests that this is possible but my solicitors have never heard of a variation taking place more than once.
"But if a beneficiary receives
a legacy of £100,000 and redirects
£10,000 to someone else, he or she can
subsequently (out of the £90,000 left),
give another £10,000 to that same person,
or a completely different person."
Advice needed please. Thanks you!
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