Would someone be able to help me with the following scenario:
Married couple with adult children made wills in 2008 leaving the NRB to those children and residue to Spouse. On the death of the first spouse they decided to enter into a deed of variation to use the RNRB too as the surviving spouse may have over £2 million in their estate, so the relevant share of the property was gifted to the children specifically.
Do the children have to take a share in the QRI or can their share be paid out in cash? It is not the intention to sell the QRI at present as the surviving spouse wishes to remain living there.
Beverley Morris & Co