I am dealing with the estates of husband and wife who died within two months of each other. Wife inherited most of husband’s estate including half the house held as tenants in common. As a result her estate is well over the RNRB taper threshold. I am proposing to make a variation to give Husband’s residue to the children which will include his half share of of house and that will enable me to claim two RNRBs.
If I do that, can I then claim a discount on the value of the Wife’s half share of the house which following the deed of variation will be deemed to be jointly owned with the children at the date of death?
Chris Hadfield
Nichols Marcy Dawson LLP