H and W have an individual estates worth £1.35m each. On first death if all passes to the survivor absolutely or via life interest trusts, the RNRB is effectively lost. With this in mind, and a host of other potential complications, I am more inclined to use a “RNRB Discretionary Trust” on first death. This allows the capture of the RNRB on first death, without committing to the same. (And possiblly a conventional NRB DT on first death too, to allow for the RNRB to be claimed on second death too without any additional planning steps). Am I missing something, or has anyone else used this approach. I appreciate the drafting maybe complex but I am sure it is doable.
Perhaps @kessler has it in mind for a new edition of Drafting Trusts and Will Trusts?