I am in the early stages of administering an estate which the left a RoO for the deceased’s unmarried partner. The RoO is for life, with option to buy another property if partner requests, so is, I think, an IPDI. The two property valuations obtained are a higher than I anticipated, in the region of £340K. The other assets are a few relatively small bank accounts.
On termination of the RoO, there are 4 legacies of £10K to each Grandchild, with the remainder shared equally between the partner and the deceased’s two daughters.
No doubt you know what is coming next…
Will the RNRB apply as £40K and two thirds of the property proceeds will ultimately end up with lineal descendants? If the RNRB is not available, is there any way to save the situation? I am reluctant to vary so the property passes straight to the daughters as the relationship with one of them is not great.
Parker Rhodes Hickmotts