Deed of Variation

[SnowedUnder]

Parent died and left property to daughter. Probate done and no IHT. If daughter makes deed of variation so percentage of property goes to her and a perccentage to her child (ie the grandchild) I assume it cannot affect IHT as her child is the grandchild of the deceased and therefore a direct descendent. If the daughter already established the nil rate bands from her parents (both deceased) I presume this cant be taken away just because she is redirecting part of it to her child Finally, would it work for the daughter to set up a (declaration of trust??? cohabitation agreement????) to ensure the grandchild could not mortgage or sell his share of the property. The daughter wants to ensure she can live in the property for life and protect her right to do so without any part of it subject to sale/ rental or mortgage so just wondering what the best mechanism for that is. Thank you so much for your advice.

[Tofros]

Couple of questions.

Where did the deceased live when they died? When did they die?

Is the grandchild of age?

what is the reason behind the wish to pass a share on now?