A Deed of Variation in the Absolute is a legal document that allows beneficiaries of an estate to vary the distribution of assets left to them by the deceased, even if they are not themselves the executors or administrators of the estate. This means that the beneficiaries can alter the way the assets are distributed among them or to other individuals or trusts.

A Deed of Variation in the Absolute must be executed within two years of the death of the deceased, and it is subject to various conditions and limitations set out in the Inheritance Tax Act 1984. One of the main benefits of a Deed of Variation in the Absolute is that it can be used to reduce the amount of inheritance tax payable by the beneficiaries, by redirecting assets to other individuals or trusts that may be exempt from or subject to a lower rate of inheritance tax.