Hi, can I just check what might seem like a fairly obvious question.
I have client who at present has in excess of £3 million estate. He is in his 90s and does not need or want the assets. He would like to bring his estate to beneath the £2 million figure to enable his Executors to access his and his late wife’s residence nil rate band.
Even though it’s unlikely he will survive more than three years , let alone seven, (so there would be tax to pay on the gifts), by bringing his estate to just under £2 million would afford his estate the additional £200,000 on current figures.
Am I missing something on this?
Any advice much appreciated.
Warwick & Barker