• Basic Wills from £150.00
    Basic Wills from £150.00
    Without a valid Last Will and Testament any assets you leave on death will be distributed according to the Rules of Intestacy. These rules lay down a rigid method of estate distribution and make no account of your wishes. Click the image to read more...
  • We realise that most people haven’t experienced probate before. Probate is the administration of a deceased’s Estate by the appointed “executors” in the Will, usually family members. At an already difficult and emotional time, the complexities of executing a Will and establishing any appropriate Trusts can be an arduous task. Click the image to the left to read more...
  • Inheritance Tax is simply a tax on money or possessions you leave behind when you pass on.It can also apply to some “gifts” you make during your lifetime. It is therefore vital that you receive professional Inheritance Tax Advice on your position to minimise the impact and tax paid should the worst happen, ensuring that your loved ones receive as much of your money as possible. Click the image to the left to read more...
  • Without a valid Last Will and Testament any assets you leave on death will be distributed according to the Rules of Intestacy. These rules lay down a rigid method of estate distribution and make no account of your wishes, unless you write a will. Click the image to the left to read more...
  • Lasting Powers of Attorney from £195
    Lasting Powers of Attorney from £195
    Often serious illness or accidents strike without warning. Last year, for example, approximately 130000 people suffered strokes. Without a Lasting Power of Attorney being available this is when it becomes difficult... Click the image to the left to read more...

So what is RNRB?

Government has introduced a new allowance for Inheritance Tax in addition to the current Nil Rate band of £325,000 per person
It is called Residence Nil Rate Band ( RNRB )
Where a person dies on or after 6 April 2017 and leaves the home to direct descendants ( and this includes step-children ) an additional allowance of £100,000 will be available. This will rise annually until 2020 when it reaches £175,000
This means that if a person leaves their home in a Will to direct descendants the estate will only start to pay Inheritance Tax if the total estate has a value of more than £425,000 ( rising to £500,000 in the tax year 2020/1 )
Married couples who have this additional allowance will enjoy a combined allowance of £850,000 (rising to £1,000,000 in the tax year 2020/1 )
The RNRB is transferable between spouses and civil partners in the same way as the current transferable Nil Rate Band
The RNRB is preserved even if a person downsizes or disposes of the property prior to death as long as the equivalent value passes to direct descendants
For estates valued over £2,000,000 the RNRB will be tapered away by £! for every £2 that the net value exceeds that figure.
Make sure your Executors understand these provisions

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