I have clients who are married and have a total estate of just below £2,000,000. Their main (and only) residence is worth £1,100,000. At present their will leaves the remainder of their estate to a discretionary Trust on the second death. They are considering leaving their property outright on the second death to their children to take advantage of the full RNRB but I was wondering what people think the best way is of preserving the RNRB while not necessarily leaving the full value of the house to the children. Is there a precedent for leaving a large enough share of the RNRB to the children to qualify for the maximum relief and then the balance to a discretionary trust?
As I suspect with a lot of questions I ask on this subject I am sure there is a good chance I have missed some important point so look forward to being corrected if required.
Graham & Rosen