Wills Drafting

Question 1

Structure of deed of variation (8 things)

Answer 1

1) This Deed of Variation is made on this day (DATE)

2) Parties and definition of each

3) SUPPLEMENTAL to the will (dated) (‘the Will’) of (deceased name) of (address) who died (death date) probate of the will having been granted out of (court name) to the Executors on (date)

4) RECITALS (numbered and sub numbers 1.4)

5) THIS DEED PROVIDES (numbered and sub numbers)

6) Executors Undertaking: The Executors undertake to administer the estate in accordance with the variations made by this Deed

7) Writing Back (IF INTEND TO READ BACK IHT): The provisions of the Inheritance Tax Act 1984 Section 142(1) and of the Taxation of Chargeable Gains Act 1992 Section 62(6) shall apply to the variations effected by this deed

8) Execution

Question 2

What is included in the recitals

Answer 2

1. In respect of clause (number) of the Will (explain what happened keep concise but elaborate using subclauses if complex)

a) Entitlement of OG or Statutory Beneficiary

b) The wish of the OG or Statutory beneficiary to vary provisions

c) any other important circumstances

If charity add: The terms of this Deed have been approved by the Charity Commissioners for England and Wales.

Question 3

THIS DEED PROVIDES

Answer 3

Numbers and sub-numbers

1. Variation of the Will in favor of the New Beneficiary

1.1 Clause 4 shall be read and interpreted as instead of gifting the property to (whoever) it provided as follows: ‘NEW CLAUSE’
1.2 If charity put the sufficient discharge
1.3 The Original Beneficiary declares they will make no claim to the property

Question 4

Codicil Structure

Answer 4

1) Declaration: “I (name of testator) of (address of testator), make this my first codicil to my will (dated) (‘my Will’)

2) List each change one by one (numbered list)

3) 7. I confirm the rest of my Will

4) Dated
Signed by (testator) in the presence of both of us then us in their presence
Signatures

Question 5

Will Structure (7 things)

Answer 5

1) This is the last will and testament of me (name) of (address), which I make on (number) day of (date)

Numbered list now

2) Revocation: I revoke all former wills, codicils and testamentary disposition

3) Funeral Wishes

4) Appointment of Executors

I appoint (name) of (address) to be executor of this will

If they die before me, refuses to act or is unable to act, or appointment does not take affect for any other reason, I appoint (name) as the executor of this will.

if law firm: partners at my death in the firm of (FIRM) of (ADDRESS) as the executors of this will. However, I want no more than two of the partners to apply for a grant of probate of this will. The reference to (FIRM) includes any firm that has succeeded to or is carrying on the practice of (FIRM) at my death (including a firm that has been incorporated or formed a limited partnership)

5) Legacies

6) Residue clause

7) Execution: Signed by (name) in our joint presence and then by us in their presence

Question 6

Residuary clause wording

Answer 6

I give all the rest of my property after deducting debts, testamentary expenses, and legacies to (residuary beneficiary)

Question 7

Charity gift drafting

Answer 7

1) (a) I give (amount) to (charity name) (Charity Registration Number 4430098) (‘the Charity’) for its general charitable purposes

(b) If at my death the Charity has ceased to exist or has amalgamated with another charity or has changed its name my Executor shall pay it to the charitable organization which they consider most nearly fulfills the objects of the Charity

(c) The receipt of a person who appears to be a proper officer of the Charity or any substituted charity shall be sufficient discharge to my Executor

Question 8

Minor gift (drafting IF PAID TO PARENTS NOW)

Answer 8

If my Executor obtains a receipt for this legacy from the parents or the guardians of (name) whilst they are still a minor, they have no further duties relating to the payment