Is this wording sufficient
Deed of Variation for the will of AAA Deceased on Date of Death 2024
My wife and I held our property at Address of property
as tenants in common.
In her will dated 21 May 2020 She leaves everything to me, BBB, her husband.“Upon trust absolutely for my husband BBB if he shall survive me for the period of thirty clear days but if my said husband shall die in my lifetime or shall not survive me for the period aforesaid and subject thereto….”
I wish to vary my entitlement to my wife’s share of the property Property Address so that it passes to our daughter CCC of Property Address
The property was valued on May 6th 2024 at £435,000 by Name and address of estate agent
Therefore AAA’s share is a half of this amount £217,500 which is below the current IHT threshold of £325,000 and no IHT is payable.
The parties to this variation intend that the provisions of section 142(1) Inheritance Tax Act 1984 and section 62(6) Taxation of Chargeable Gains Act 1992 shall apply.
This deed shall apply on the date of the signatories below.
BBB of Property Address
Signed
Date
CCC of Property Address
Signed
Date
I have witnessed these signatures
Name
Address
Occupation
Signature