T died March 2018. His Will leaves his entire estate including the property which passes to his three children into a trust which bears “testamentary expenses and debts”. The estate is taxable. Is the IHT bill to be apportioned proportionately across all assets in the estate or can the property be considered exempt from IHT (at least to the value of the RNRB) by virtue of the RNRB?
Erika Whitfield
Adlams LLP