I’m not sure if I’m not thinking myself in circles. I’m drafting a Will for a married couple and I need to keep the estate of the surviving spouse under £2m on the second death. My preferred Will would be:
a) carve out a gift of the GNRB into a DT,
b) carve out a gift of the RNRB for spouse then on to issue
c) remainder to spouse on a FLIT
d) converting to a DT on the second death
and to mirror this in both Wills so that we can be certain as to where each allowance (a and b) goes on each death regardless of which spouse dies first.
However, most of Kessler’s precedents set out:
a) IPDI for spouse on first death
b) gift of testator’s RNRB after death of spouse (making use of spouse’s ‘spare’ RNRB)
c) DT residue
and a straightforward DT of residue if testator survives spouse (ie on second death).
I appreciate this precedent isnt drafted to bring an estate down under £2m but the part that is confusing me is the gift of the second spouse’s ‘spare’ RNRB, as if the testator may have the right to gift that under their Will on the first death…How can a testator make use of an allowance that the surviving spouse is free to continue to make use of during their lifetime?
It appears to me the gift of the spare RNRB is trying to make use of something the testator doesnt have any right to claim if they do not survive the second spouse to inherit it? If that makes sense?
Im sure the penny will drop once I see some replies! Much appreciated
Swayne Johnson Solicitors