News Category: Trusts

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The Residence Nil Rate Band

The Residence nil rate band The ‘Residence Nil Rate Band’ (RNRB) aims to remove more family homes from the inheritance tax (IHT) regime. The RNRB is now available for individuals who leave their main residence to direct descendants such as children or grandchildren (and this can include step-children). Where available, the RNRB will serve as a…

A Statutory Will – What is it and when might it be useful?

Most will be aware of the role of a Will; the document in which the individual making the Will sets out their wishes in relation to how they would like their estate to be divided upon their death. It’s a pretty morbid thing to think about “what do I want to happen when I die?”…