I’m still getting to grips with some aspects of the new RNRB.
Wife dies leaving everything to husband. Husband then dies leaving the estate (including a qualifying property) equally between daughter A, and grandchildren B & C on attaining 25. B is now 26 and C is 23.
- The gift to C is not a qualifying gift.
- On the face of it the estate will benefit from 2/3rd’s of the RNRB
- The position can potentially be “saved” if the Executors exercise their power of advancement (with usual reading back provisions) meaning the full RNRB can then be available.
Do forum members agree this is the correct course of action?
Any alternative views?
Brewer Harding & Rowe