Testator leaves his home to partner (unmarried and not CP) for her lifetime.
On her death (or when she gives up the life interest) the property passes to the residual beneficiaries, of which one is a lineal descendant of the testator. However, this residuary beneficiary does not qualify as a lineal descendant of the life tenant.
Will we be able to access the RNRB on the testator’s death now?
Gill Collins
Warwick & Barker
No, as the IIP to the partner does not qualify as a gift to a qualifying benefuiciary.
Paul Saunders FCIB TEP
Independent Trust Consultant
Providing support and advice to fellow professionals
For the RNRB to be available on the life tenant’s death any interest in the residence needs to be inherited by a lineal descendant of the life tenant, not the testator.
Malcolm Finney
Thank you for confirming - that was my understanding too.
Gill Collins
Warwick & Barker
My understanding is that to claim the RNRB, the lineal descendant has to inherit directly at death. This does not appear to apply (as the death is not of the parent).
Haroon Rashid
I Will Solicitors Ltd