Hi all,
Some help or clarification would be greatly appreciated.
Mrs X dies who had a FLIT with spouse Mr X as the life tenant, including family home which was 50 / 50 owned as tenants in common.
Following Mrs X passing, Mr X is now selling the family home and moving into rented accommodation.
As the home won’t end up going into the Discretionary Trust on his death, and their are funds to provide lineal descendant with equivalent value, will two Residence Nil Rate Bands be available on Mr’s estate.
Many thanks.
Regards,
Oliver Davies.