Jenny Shucksmith dealt with the administration of Mrs W’s estate. In her Will which had been prepared by another firm, Mrs W left her half share interest in her property which she co-owned with her husband on life interest trust for him.
The purpose of Mrs W’s Will being drafted in this way was to protect her half of the property for their children should Mr W require care in the future. Having reviewed the deeds to the property, it was noted that the couple held the property as joint tenants and therefore the property passed to Mr W by right of survivorship, and not into the trust established by the Will.
With the agreement of Mr W, Jenny was able to rectify the situation by preparing a Deed of Variation to sever the joint tenancy of the property which meant that Mrs W’s wishes could be carried out and her interest in the property pass into trust. In dealing with the adjustment to the Will by Deed of Variation, it was seen as having been done immediately prior to Mrs W’s death and therefore had no tax implications for Mr W.